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Zhenshi Holding gets NDRC approval for Indonesian ferronickel investment

Thursday, 27 June 2013 17:17:47 (GMT+2)   -   Shanghai

Tags: China , Southeast Asia , production , steelmaking , Shanghai | similar articles » SteelOrbis News

Zhejiang Province-based Zhenshi Holding Group's plan to increase its capital investment in an Indonesian ferronickel project has been approved by China's National Development and Reform Commission (NDRC), as reported by local Chinese media.

The project in question will be built in Maluku, Indonesia, on a site covering 33 hectares. The total investment in the project amounts to $56 million, with Zhenshi Holding Group contributing $14 million. The project includes the construction of a 350 cubic meter lime kiln, four blast furnaces and related systems, while upon completion the annual output of ferronickel is expected to be over 80,000 mt.

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