Mitsui, Kawasaki to build Antam?s FeNi III facility: Report
Saturday, August 23 2003 - 12:10 AM WIB
Mitsui & Co. and Kawasaki Heavy Industries Ltd. have received a 20 billion yen(approximately US$170 million) order for a ferronickel production plant placed by Indonesian PT Antam Tbk, a state-run mining and processing firm, the Nihon Keizai Shimbun reported in its Friday edition.
The plant - to be built in Pomalaa on the island of Sulawesi, where Antam is constructing a third production facility - is scheduled for completion at the beginning of 2006. The annual production capacity will be 15,000 tons. Combined with existing facilities, including a 1994 order received by Mitsui and others, total output will increase to 26,000 tons.
Antam will secure the funds for the expansion through such means as issuing corporate bonds. Ferronickel has been in short supply due to a sharp increase in Chinese demand for stainless steel.
The order is one of the largest received by either firm in the nonferrous plant sector.
None of Antam officials was available to confirm the report. (*)