LBM inks USD200 mln investment deal for Indonesian LFP plant

On October 8, Jiangsu Lopal Tech Co., Ltd., Changzhou Liyuan New Energy Technology Co., Ltd. (LBM) and LBM New Energy (AP) PTE. Ltd. entered into an investment agreement with Indonesia Investment Authority (INA) and associated investors, who plan to invest up to USD200 million in LBM New Energy (AP) for ramping up production capacity at its first overseas LFP plant located in Indonesia's Kendall Industrial Park from the current 30,000tpa to 120,000tpa by 2025, making it the largest LFP plant outside China.