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Toshiba, Rosatom mull investing in Chile's battery technology industry

Japan's Toshiba Corp. and Russia's ROSATOM International Network are among companies interested in investing in Chile's battery technology sector, Reuters reported, citing Chilean government officials and documents.

The South American country is looking to secure investments in battery technology in exchange for access to its lithium deposits in the Atacama Desert, the report said.

Chile has held global roadshows to attract investors ahead of its second lithium-for-investment tender in early 2020. The government plans to offer a guaranteed supply of lithium at discounted prices to investors that commit to building battery-parts plants in the country.

Chile's previous plan to develop a local electric-vehicle battery industry failed after all three finalized investors dropped plans to build a battery-parts factory in the country.

Chilean lithium consultant Jaime Alee said companies usually build supply chains closer to their operations, and there is no logic in building a plant in Chile.

"I don't see this ending any better than the previous auction," Alee said.