Chinese nickel producer GEM Co. Ltd. has announced that its annual 30,000-ton high-nickel ternary precursor material project for power batteries has been completed and the company plans to expand its capacity to 50,000 tons.

The project is still named PT INDONESIA QINGMEI ENERGY MATERIALS (QINGMEI) and is located in Central Sulawesi, Indonesia.

The project covers an area of 112.13 acres with a total construction area of 79,720 square meters, including manufacturing plants, research and development centers, and other facilities.

The total investment is CNY 2.149 billion, with 30% coming from the company's own funds and 70% from bank loans and other self-raised funds.