China Copper Producer Hailiang Expands Into Indonesia on EV Push
- Plans to build $850m battery copper foil plant in two phases
- Company aims to tap overseas markets as domestic margins fade
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Zhejiang Hailiang Co., the world’s top producer of copper tubes and rods, plans to build a copper foil plant in Indonesia for 5.9 billion yuan ($850 million) amid its push into the electric-vehicle battery industry.
The project will be developed in two phases to be completed in 2025 and 2027 respectively, the company — based in eastern China’s Zhejiang province — said in a filing to Shenzhen Stock Exchange on Tuesday. Each will have annual capacity of 50,000 tons of lithium-battery copper foil.