NISCO reports 3.83 mln tonnes Indonesia coke output as Kinxiang ramps up

By Dominikus

China’s Nanjing Iron & Steel Co., Ltd. (NISCO) reported output of 3.83 million tonnes from its Indonesian coke operations in 2025, as its 6.5 million tonnes-per-year platform in Morowali, Central Sulawesi, continues to ramp up.

The output came from two main projects—PT Kinrui New Energy Technologies Indonesia and PT Kinxiang New Energy Technologies Indonesia—located in the Indonesia Morowali Industrial Park (IMIP), as reported by NISCO’s Chairman Huang Yixin on Tuesday (17 March).

The Indonesian platform comprises a 2.6 mtpa coke plant under Kinrui and a larger 3.9 mtpa facility under Kinxiang, supported by a broader network of subsidiaries including PT NISCO Jinteng Steel, PT Indonesia Jinteng Resources, and PT Kinteng New Energy Resources Indonesia, which together form an integrated coal-to-coke industrial chain in the country.

Kinrui, which operates four coke ovens, has entered stable operations, while Kinxiang, with six coke ovens, is still in the process of ramping up production. In 2025, Kinrui recorded coke sales of 1.6 million tonnes, while Kinxiang reported 2.23 million tonnes, indicating that overall utilization remains below installed capacity as the newer facility scales up.

The projects were developed with combined investment of nearly $930 million, including about $383 million for Kinrui and $545 million for Kinxiang.

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Financial data from the company’s 2025 disclosures show uneven performance across the Indonesian entities. Kinrui reported revenue of around $410 million, down sharply from approximately $810 million in 2024, and posted a net loss of about $49 million, compared with a marginal profit a year earlier. Meanwhile, Kinxiang generated revenue of roughly $545 million, up significantly from about $127 million in 2024, but remained loss-making with a net loss of around $16 million, reflecting ongoing ramp-up costs and operational adjustments.

The Indonesian coke operations are underpinned by coal mining assets held through PT Indonesia Jinteng Resources, a fully owned subsidiary, and PT Kinteng New Energy Resources Indonesia, in which NISCO holds a controlling stake. These entities are engaged in coal extraction and are understood to support feedstock supply for the coke plants, although the company did not disclose specific supply volumes or offtake arrangements.

To coordinate its overseas operations, NISCO has also established Weilan High-Tech Group, which oversees and supports the development of its Indonesian assets, including Kinrui and Kinxiang, as part of its broader internationalization strategy.

NISCO’s Indonesian subsidiaries operate under Indonesia’s corporate income tax regime and benefit from tax holiday incentives aimed at large-scale industrial investments, reinforcing the country’s role as a key offshore processing base for the group’s upstream and metallurgical operations.

The Morowali projects place Indonesia at the center of NISCO’s overseas expansion, although the company has yet to provide detailed timelines for achieving full utilization across its coke facilities or to disclose long-term sales destinations for the output.

Editing by Reiner Simanjuntak