China?s Fuhai plans $1.2 billion smelter in RI
Wednesday, October 29 2014 - 12:57 AM WIB
China?s Fuhai Group plans to develop a smelter to process iron sands into steel products in Indonesia with initial investment estimated at US$1.2 billion, Bisnis Indonesia reported on Wednesday.
The paper quoted visiting Fuhai Group Chairman Lizhi Zhao as saying that the planned smelter will be located at an industrial zone to be developed by the company in Ujung Jabung, Jambi.
He added that construction of the smelter is expected to be completed in 2016. The smelter will have a capacity to produce 1.75 million tons of steel per year. (*)