LG Energy Solutions is planning to launch a battery development project in Indonesia. The five-year project is estimated to cost approximately 10 trillion won and the company will form a consortium with four enterprises run by the Indonesian government – Mining Industry Indonesia, Antam, Pertamina and PLN. LG International will take part in the project, too. The two LG Group subsidiaries’ investment in the project is estimated at two trillion won or more. A memorandum of understanding for the initiation of the project is scheduled to be signed on Dec. 18.
