Dentons HPRP advises on landmark US$6 billion integrated EV battery project in Indonesia

Dentons HPRP has advised a State-Owned Enterprise (SOE) group operating in Indonesia’s Battery Electric Vehicle (BEV) and Electric Vehicle (EV) ecosystem in connection with a landmark integrated battery investment project valued at approximately US$6 billion. The Client is collaborating with PT Antam and HYD Investment Limited, a Chinese investment vehicle controlled by Zhejiang Huayou Cobalt Co., Ltd., EVE Energy Co., Ltd., and PT Daaz Bara Lestari Tbk, to develop an end-to-end electric vehicle battery industry in Indonesia. Designed as a fully integrated ecosystem, the project spans the Refinery & Precursor, Cathode, Battery Cells, and Battery Recycling stages, ensuring seamless alignment between upstream and downstream operations.

With a projected production capacity of up to 20 gigawatt-hours, the integrated facility is expected to significantly strengthen Indonesia’s EV ecosystem and global supply chain position. The project is anticipated to generate approximately 10,000 jobs, while enhancing energy efficiency and security, supporting energy conservation in the transportation sector, and contributing to cleaner air and reduced greenhouse gas emissions—further advancing Indonesia’s clean energy transition.

The Dentons HPRP team, led by Partner Hendra Ong and supported by Associates Reyner Mulia and Anissa Astarina Soeranto, was engaged to conduct a comprehensive legal review and strategically structure the Framework Agreement governing the overall project plan, phased implementation, and joint venture arrangements. The mandate required careful navigation of applicable regulatory frameworks, internal governance policies, and investment limitations, particularly given the Client’s status as a subsidiary of a State-Owned Enterprise. The firm also supported the Client throughout negotiations with PT Antam and HYD Investment Limited through to the successful execution of the Framework Agreement, ensuring that the Client’s commercial interests were effectively safeguarded while maintaining full regulatory compliance.

This transaction underscores Dentons HPRP’s strength in advising on complex, high-value strategic investments within Indonesia’s rapidly evolving energy transition and EV infrastructure landscape, reinforcing the firm’s position as a trusted legal advisor in transformative national projects.