Yinyi Group to build nickel smelter in S. Sulawesi
Monday, October 7 2013 - 01:43 AM WIB
China?s Yinyi Group plans to build a nickel smelter and stainless steel facility in Bantaeng Regency, South Sulawesi, with total investment of about Rp 23 billion, Kompas reported on Monday.
The paper quoted Bantaeng Regent Nurdin Abdullah as saying that Yinyi has already signed an MoU regarding the investment plan on October 3 in Jakarta, which was witnessed by President Susilo Bambang Yudhoyono and his visiting Chinese counterpart President Xi Jinping.
Yinyi Group, through its Indonesian subsidiary Yinyi Indonesia Mining Investment Group, is currently conducting a survey for the location of the planned smelter, which is projected to start operation in 2016, and generate 2,000 jobs, Nurdin said.
The Bantaeng Regency has previously attracted five nickel and one manganese mining firms to build smelters in the regency, with total investment of Rp 36 trillion, Kompas said. (*)