Antam seeks funds for second ferronickel project in N. Maluku

By Thomas Sembiring

Petromindo

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) plans to soon start seek funds to finance the construction of a second-line of the current ferronickel plant development project in Halmahera Timur (Haltim), North Maluku Province.

?We?ll seek funds for the second line,? said Antam President Director Tedy Badrujaman last week, following the signing of a Rp 3.42 trillion turnkey EPC contract of the first-line Haltim ferronickel plant project with a consortium comprising of IDX-listed engineering and construction firm PT Wijaya Karya Tbk and Kawasaki Heavy Industries Ltd.

The first-line Haltim ferronickel plant project, which will have annual production capacity of 13,500 tons nickel contained in ferronickel (TNi), is targeted to be completed at the end of December 2018.

Tedy said that the company will continue to expand the Haltim ferronickel plant to reach a production capacity of 40,000 TNi per year, to allow it to become a stainless steel producer.

Editing by Reiner Simanjuntak