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Nickel producer PT Merdeka Battery Materials has obtained a USD 1.4 billion loan to fund the construction of a plant located on Sulawesi island, according to a company statement.

Bangkok Bank PCL, PT Bank Permata, PT Bank Mandiri, PT Bank Negara Indonesia and PT Bank Rakyat Indonesia provided the seven-year senior secured and non-recourse loan, according to the statement.

PT Sulawesi Nickel Cobalt is the borrower of the facility, the proceeds of which will finance the construction of a high-pressure acid leach plant located within the Indonesia Morowali Industrial Park, the statement showed. Such processing plants will produce nickel or cobalt chemicals used for EV batteries.

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Nickel producer PT Merdeka Battery Materials has obtained a USD 1.4 billion loan to fund the construction of a plant located on Sulawesi island, according to a company statement.

Bangkok Bank PCL, PT Bank Permata, PT Bank Mandiri, PT Bank Negara Indonesia and PT Bank Rakyat Indonesia provided the seven-year senior secured and non-recourse loan, according to the statement.

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Nickel producer PT Merdeka Battery Materials has obtained a USD 1.4 billion loan to fund the construction of a plant located on Sulawesi island, according to a company statement.

Bangkok Bank PCL, PT Bank Permata, PT Bank Mandiri, PT Bank Negara Indonesia and PT Bank Rakyat Indonesia provided the seven-year senior secured and non-recourse loan, according to the statement.

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