Vale cooperates with a Chinese company to build a smelter in Morowali, Central Sulawesi 

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PT Vale Indonesia Tbk (INCO) is collaborating with a Chinese company, namely China Baowu Steel Group and Shandong Xinhai Technology to build a nickel smelter or refining and processing plant in Bahodopi District, Morowali Regency, Central Sulawesi with an investment of US$2.1 billion or around Rp31 trillion. . 

"The estimated capex cost is around US$2.1 billion for the construction of the factory," said PT Vale Indonesia President Director Febriany Eddy at the signing of the Bahadopi Block Project Investment and Cooperation Agreement in Jakarta, Tuesday. 

The nickel smelter plant will be able to produce around 73 thousand to 80 thousand metric tons of nickel per year. With the signing of the investment cooperation, it is hoped that the construction of the factory will be completed no later than 2025. 

Febriany thanked the Indonesian government for making the Bahodapi Project a National Strategic Project (PSN).

 "This project is included as a PSN, this means that this project has a strategic value for improvement, growth, equitable development in order to improve public health and regional development," said Febriany. 

He said the nickel smelter factory being built will produce low carbon by using a liquefied natural gas or LNG power plant. Febriany said the factory would be the first factory in Indonesia to be powered by LNG. 

PT Vale Indonesia Director Bernandus Irmanto said that Vale would own 49 percent of the factory, while the rest would be owned by partners. Irmanto explained that the factory will produce a product in the form of ferronickel which will be used as a raw material for making stainless steel. During the first five years, 100 percent of the ferronickel output will be sourced by Vale's partners for export. Meanwhile, after five years, Vale obtained 49 percent of the total ferronickel produced by the factory in one year.

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