Baosteel to build $1.2 billion nickel plant with Indonesia’s PT AnekaTambang

Thursday, 15 July 2010 17:01:37 (GMT+2)

Gita Wiryawan, head of Indonesia's Coordinating Board for Investment, stated on July 14 that Indonesian nickel and gold producer PT Aneka Tambang (ANTM.JK) will sign an agreement "soon or later this month" with Chinese steelmaker Baosteel Group Corp. to establish a nickel plant on Kalimantan Island, Indonesia with an investment of $1.2 billion.

Mr. Wiryawan added that the output of the new plant will reach 500,000 mt of ferronickel per year and that construction will start later this year.

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