On the 8th, Indonesian President Prabowo Subianto took the helm as the officiating figure at the launch ceremony for 11 Chinese-invested mining downstreaming projects. These projects, boasting a total investment of approximately US$10.2 billion, were inaugurated at the Weda Bay Industrial Park, located in Central Halmahera Regency, North Maluku Province. Spanning diverse sectors, including power batteries and nickel-cobalt materials, these initiatives mark a significant stride in industrial collaboration. President Prabowo also bore witness to the inaugural export of electric vehicle batteries, manufactured by Chinese enterprises within the park. He revealed that the aggregate investment in the Weda Bay Industrial Park has surpassed US$20 billion, with plans to infuse an additional US$7 billion in the foreseeable future. Moreover, the park has already generated employment opportunities for over 100,000 individuals. The President emphasized that the cooperation between Indonesia and China would not only deepen bilateral relations but also bring tangible benefits to the populace of both nations.

Indonesian Minister of Investment and Downstreaming, Rosan, remarked that the new projects would serve as a catalyst for Indonesia to establish a comprehensive electric vehicle battery supply chain and propel all-round industrialization. The Weda Bay Industrial Park, primarily funded and developed by Tsingshan Holding Group, represents its second foray into establishing a comprehensive industrial park in Indonesia. Since the commencement of construction in 2018, the park has successfully forged a complete industrial chain, encompassing every stage from mining to battery material production.