On the afternoon of Nov 16, the closing ceremony of the 17th G20 Summit was held in Bali, Indonesia. As the G20 Bali Leaders' Declaration was adopted, the summit was wrapped up.
Mr. Deng Weiming, Chairman and President of CNGR Advanced Materials Co., Ltd. ("CNGR" for short), was invited to attend a host of side activities of the G20 Summit such as the 2022 G20 Business 20 (B20) Summit ("B20 Summit" for short) and the B20 Investment Forum. He was received by Mr. Joko Widodo, President of Indonesia who holds the rotating G20 presidency this year, and listened to the keynote speeches by many leaders of G20 members. He also had discussions and exchanged views with more than 1,000 business leaders from all over the world and signed two major agreements. Based on these fruitful results, CNGR will advance the joint building of the Belt and Road Initiative and support the development of Indonesia's industrial economy, thus making positive contributions to the recovery of the global economy.
CNGR signs MoU with Indonesia to help develop its industrial economy
On the morning of Nov 11 (local time), Mr. Bahlil Lahadalia, Indonesian Minister of Investment and Chairman of the Indonesian Investment Coordinating Board (BKPM), had a talk with Mr. Deng Weiming, Chairman of CNGR Advanced Materials Co., Ltd. ("CNGR" for short), at the B20 Investment Forum held in Bali Nusa Dua Convention Center. The two sides had in-depth exchanges and discussions on investment projects, investment policies, preferential policies, and others, and reached a consensus on relevant topics.
To consolidate the results of the talk, the two sides decided to sign a Memorandum of Understanding (MoU). Witnessed by Mr. Luhut Binsar Pandjaitan, Indonesian President's special envoy, Indonesia's Coordinator for Cooperation with China, and Coordinating Minister for Maritime Affairs and Investment, and Mr. Bahlil Lahadalia, Indonesian Minister of Investment and Chairman of BKPM, Mr. Deng Weiming as Chairman of CNGR and Mr. Ikmal Lukman as Secretary General to the Ministry of Investment and BKPM of Indonesia signed the MoU.
As per the agreement, the two sides have reached a consensus on long-term investment cooperation. Indonesia's Ministry of Investment/BKPM will assist CNGR in obtaining project licenses, business licenses, and preferential policies for investment, export tax exemptions for new energy power battery materials and other aspects issued by the Indonesian government.
Chairman Deng said that a package of preferential and incentive policies adopted by Indonesia's Ministry of Investment to support enterprises investing in the country has spoken volumes about the Indonesian government's attention to investors and vision for domestic industrial development, and this will attract more new energy enterprises like CNGR to invest in Indonesia.
In addition, the two sides also agreed to encourage win-win cooperation to support local SMEs and MSMEs to implement investment projects.
CNGR and Indonesia's ANTAM to co-build demonstration industrial park
On Aug 5, CNGR Advanced Materials Co., Ltd. ("CNGR" for short) signed the Head of Agreement (HoA) for the construction and development of industrial area for the downstreaming of nickel ore into battery raw material with Indonesia's state-owned enterprise PT Aneka Tambang Tbk ("ANTAM" for short), marking that the two sides have reached a preliminary agreement on the joint construction of an industrial park.
To accelerate the cooperation progress and specify the content and timeline of the cooperation, Mr. Deng Weiming as Chairman of CNGR and Mr. Nico Kanter as President Director of ANTAM signed a Framework Agreement (FA) at the B20 Investment Forum held on Nov 11, which will usher the cooperation into a new stage.
Both parties agree that they will make full use of each other's respective advantages to achieve complementarity. CNGR will provide comprehensive support in technology, capital, and park construction, and ANTAM will supply sufficient raw materials and provide utilities and supporting industrial areas. Specifically, ANTAM promises to supply at least 50% (about 4.5 million wet tons) of the ore required during the 20-year operation period.
This cooperation is expected to further increase the added value of nickel ore, improve the industrial ecology from laterite nickel to battery-grade nickel, provide more competitive solutions for lithium batteries such as power batteries and energy storage batteries for new energy vehicles, promote the use of green energy, and advance the realization of the goal of global carbon neutrality.
As a globally leading comprehensive service provider of new energy materials, CNGR has always adhered to the corporate mission of "devoting to the development of new energy and constructing a better life for human beings", and its active participation in this year's B20 Summit has provided a very good example to support this. In the future, CNGR will continue to contribute China's technology and experience to the development of global new energy materials to demonstrate its sense of responsibility as a global enterprise.
