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Nickel Resources Planned to Set up the Steel Mill in Indonesia

  • Tuesday, September 17, 2013
  • Source:

  • Keywords:Nickel Resources Steel Mill Indonesia
[Fellow]
[Ferro-Alloys.com]It was acknowledged that Nickel Resources planned to invest in USD$15million to open a steel mill in Indonesia, which was expected to put into operation in 2015 and brought several hundred million dollars with capacity of 3million tons in Phase I.
 
Dong Zhongshu，the chairman of the group, said to set up plant inIndonesia had many advantages, like the low cost, high return rate and strong demand from its hosing and infrastructure. They planned to produce the lowest add-valued screw steel firstly, which would generate the profit of RMB300/mt per ton. And then would produce medium plate used as bridge and boat building.
 
For nickel price, it had already declined by 20% and would not increase in short term, Mr Dong said.
 
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