GEM (SHE:002340) plans to expand the production capacity of a plant in Indonesia that produces high-nickel ternary precursor materials for power batteries, according to a Shenzhen Stock Exchange disclosure on Jan. 2.

The capacity will increase to 50,000 tons from 30,000 tons of high-nickel ternary precursor materials every year, the disclosure added.

The project, which amounts to 2.15 billion yuan, will be built until October 2025.

The products manufactured in the plant are marketed to international markets such as Europe and the US.