As one of the significant events of the third Belt and Road International Cooperation Summit Forum in China, the China-Indonesia Business Forum was held in Beijing on October 16, 2023. Chairman He Xueqin of BTR, invited by the Indonesian government, led a delegation to participate in the forum. In the presence of Indonesian President Joko, a cooperation agreement for the investment framework of a lithium battery cathode material project was signed with the Indonesian Ministry of Maritime Affairs and Investment. Both parties aim to achieve a consensus through this framework agreement and collaborate on mutually beneficial projects, thereby expanding BTR's global influence, promoting local economic and employment growth in Indonesia, and supporting the development of the Indonesian electric vehicle industry. BTR General Manager Ren Jianguo, Deputy General Managers Chen Xiaodong, Yang Shuzhan, and others attended the aforementioned event.

The cooperation agreement stipulates that BTR and Singapore's Stellar company will jointly invest in establishing an annual production capacity of 80,000 tons of lithium battery cathode materials in the IMIP Park in Central Sulawesi Province and the KIP Park in Central Java Province, Indonesia. The first phase of the project involves an investment of USD 478 million and is expected to create employment opportunities for 1,200 local residents. The Indonesian Ministry of Maritime Affairs and Investment welcomes BTR's investment in and construction of the lithium battery cathode material project in Indonesia. The Ministry will provide a series of policy supports for BTR's project, and during the investment, production, and operation phases, it will assist BTR in coordinating with Indonesian government agencies and other entities to ensure the smooth progress of the project.

The signing of this cooperation agreement underscores the Indonesian government's confidence in BTR's lithium battery cathode material project. BTR, with the guidance and assistance of both the Chinese and Indonesian governments, will actively advance the announced project investment plan.