This consists of six projects including nickel mine development, ternary battery manufacturing, and battery recycling, five of which are majority owned by .

CATL (SHE: 300750), the world's largest supplier of power batteries, continues to expand its footprint in international markets.

An affiliate of the supplier to and signed an agreement on April 14 with Indonesia's PT AnekaTambang (ANTAM) and PT Industri Baterai Indonesia (IBI) to build multiple projects related to power batteries in the Southeast Asian country.

The projects, with a total investment amount of up to $5.968 billion, consist of projects in the power battery industry chain including nickel mining and smelting, battery materials, battery manufacturing and battery recycling, according to an announcement made by CATL on its WeChat account today.

ANTAM is an Indonesian listed local state-owned mining company, and IBI is also an Indonesian state-owned company that is a newly formed investment company dedicated to battery production by Pertamina and a number of companies, including ANTAM.

These projects will further improve CATL's strategic layout in the battery industry, secure the supply of key upstream resources and raw materials, and reduce production costs, the Chinese company said.

The power battery chain project in Indonesia is an important milestone for CATL's global strategy, said Robin Zeng, the company's founder and chairman.

The Shenzhen-listed CATL's WeChat announcement didn't provide much more information, though its announcement on the Shenzhen Stock Exchange showed a total of six projects in Indonesia, the vast majority of which are majority held by CATL.

CATL has a 49 percent stake in the laterite nickel development project it is working on with ANTAM. In the other five projects, which include ternary battery manufacturing and battery recycling, CATL's stake is 60 percent or 70 percent.

These projects have a projected construction period of five years, from 2022 to 2026, on a site of about 29,085 acres (19.39 square kilometers), according to CATL.

This is the latest development in CATL's expansion into international markets, as the company's first overseas plant in Thuringia, Germany, was awarded an 8 GWh battery cell production license on April 4.

The plant, which is also the first battery plant in Germany, is currently in the equipment installation phase, making the final push to get the first cells off the production line by the end of 2022.

CATL's installed global power cell capacity in 2021 was 96.7 GWh, up 167.13 percent from 36.2 GWh in 2020, according to data released in early February by South Korea-based market research firm SNE Research.

This gives CATL a global market share of 32.6 percent, up 8 percentage points from 24.6 percent in 2020, and is the fifth consecutive year it has held the position of the world's largest power battery maker.

The company's power battery installed base in China in March was 10.81 GWh, accounting for a 50.49 percent market share, according to data released by the China Automotive Battery Innovation Alliance on April 11.