Palu, C Sulawesi, May 13 -- Indonesia's Palu Special Economic Zone secured a US$1.75 billion investment commitment to develop a battery energy storage system (BESS) gigafactory and liquefied natural gas hub, advancing the country's downstream nickel processing and clean energy ambitions.

The deal was formalized through a memorandum of understanding signed in Jakarta on Tuesday between PT Bangun Palu Sulawesi Tengah, the regional state-owned developer of Palu SEZ, and Singapore-based clean energy investment platform Aslan Energy Capital.

The project will establish an integrated BESS gigafactory and an international-scale LNG hub within the industrial estate in Central Sulawesi, spanning about 40 hectares.

The initial phase is designed t...