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DBS leads financing to drive Indonesian electric vehicles
A $625 million financing structure for PT Halmahera Persada Lygend (PT HPAL), Indonesia’s first high pressure acid leach smelter, will support the country’s ambitions for the electric vehicle (EV) and battery manufacturing.
DBS jointly led the consortium of nine banks for PT HPAL, which is the first in Indonesia to utilise HPAL technology to manufacture mixed nickel-cobalt hydroxide precipitate and nickel sulphate – key raw materials for electric battery manufacturing.
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