(MENAFN) Indonesia's industry ministry announced that the first stage of the USD1-billion nickel pig iron smelter in Central Sulawesi will begin operations by the end of next year, reported Reuters.
It added that 30 percent of the first stage is complete; noting that Indonesia's current investment in the project has reached USD100 million of the stage's total investment of USD320 million.
The ministry said that annual output is expected to reach 300,000 tons of nickel pig iron, with the bulk to be shipped to China.
Building the project's second stage, which will cost USD640 million, will start this July and will raise output by 500,000 tons.
It is worth noting that the smelter is being constructed by PT Sulawesi Mining Investment (SMI), a joint venture between Indonesia's PT Bintang Delapan Group and China's Tsingshan Group.
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