Evercontaining Electric to build ferronickel park in Sulawesi
Wednesday, February 19 2014 - 02:56 PM WIB
Chinese firm Qingdao Evercontaining Electric Co Ltd announced on Tuesday that the company has achieved a great progress in construction of phase I of a ferronickel industrial park in Sulawesi.
Covering 1734 hectares, the park has gained approval certificates. Phase I investment will be about US$300 million, the firm said in a statement. It however did not provide details about the project.
The company said it also plans to invest CNY 123.58 million in the ASAM power plant in Indonesia. However, there are uncertainties in when the project will start. Therefore, the company plans to invest CNY 127.10 million in construction of the Phase I. The firm did not specify the location of the project.
The company engages in the research, development, design, production, and sale of power equipment in China
Editing by Johannes Simbolon