E United Group expects to start construction of stainless steel mill in Indonesia in Jun 2020
2019-08-06 16:46:29 [Print]
In order to ensure stable supply for raw materials and resist against cheap imported materials, Taiwan-based E United Group plans to invest USD700 million in building the phase one project of a one-stop stainless steel mill in Indonesia to do business including the supply of nickel ore. The group company is active in boosting the progress of the project now, expecting to launch the construction in June 2020 if all application procedures can be made smoothly.
E United Group invested USD30 million in purchasing two mines (including mining fees) in Indonesia last year in order to obtain low-cost lateritic nickel ore after the project is put into operation. As for the reserve volume of the two mines, Lin Yishou, the chairman of the board, expected that over 10 million metric tons of lateritic nickel ore can be mined from the two miners which cover 8,000 hectares.
It's learned that the project includes a steel mill using ferronickel as raw material and several production lines for flat steel billet and hot-rolled stainless steel. According to related plan, the first phase project will have an annual output of 1 million metric tons and a total investment of USD700 million, while the second phase project, of which the annual output will also reach 1 million metric tons, need less investment.
E United Group invested USD30 million in purchasing two mines (including mining fees) in Indonesia last year in order to obtain low-cost lateritic nickel ore after the project is put into operation. As for the reserve volume of the two mines, Lin Yishou, the chairman of the board, expected that over 10 million metric tons of lateritic nickel ore can be mined from the two miners which cover 8,000 hectares.
It's learned that the project includes a steel mill using ferronickel as raw material and several production lines for flat steel billet and hot-rolled stainless steel. According to related plan, the first phase project will have an annual output of 1 million metric tons and a total investment of USD700 million, while the second phase project, of which the annual output will also reach 1 million metric tons, need less investment.
