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Australian company eyeing to invest in lithium-ion batteries manufacturing in Sarawak

Australian company eyeing to invest in lithium-ion batteries manufacturing in Sarawak

29 Jun 2022

The Australia-based Element 25 Pte Ltd has proposed to invest AUD300-400 million to produce high purity manganese sulphate (HPMSM) for lithium-ion batteries for electric vehicles in Sarawak.

This was mentioned during a roundtable meeting between the Sarawak delegation led by Deputy Premier Datuk Amar Awang Tengah Ali Hasan with officials from Element 25 in Perth recently.

In a statement today, Awang Tengah said that Sarawak always maintained an attractive investment destination.

“Sarawak is in favour of these types of manufacturing activities as they are in line with our Post Covid-19 Development Strategy 2030 that aims to achieve a high-income economy, where economic prosperity, social inclusivity and environmental sustainability are enjoyed by all.

“As the world moves towards decarbonisation, the adoption of more environmentally friendly technologies including lithium-ion batteries for electric vehicles are gaining popularity,” he said.

He added that with the ongoing United States – China trade war and recent Russia-Ukraine war, the strategic location of Sarawak will become more prominent.

Among those present at the meeting were Deputy Minister of International Trade and Investment Datuk Dr Malcolm Mussen Lamoh and Element 25 Managing Director Justin Brown.

Those in the Sarawak delegation include Sarawak Economic Planning Unit director Datu Abdullah Zaidel, Ministry of International Trade, Industry and Investment (Mintred) Sarawak acting permanent secretary Dzulkornain Masron, Mintred advisor Datuk Naroden Majais and Mintred special officer Datu Liaw Soon Eng.

Source: Borneo Post Online