April 26, 2019 / 2:18 PM / 3 months ago

China's Sinomach signs contract to build 80,000 T ferronickel plant in Indonesia

BEIJING, April 26 (Reuters) -

* China National Machinery Industry Co, known as Sinomach, on Friday said its subsidiary had agreed a $74.38 million contract to build a 80,000 tonnes per year ferronickel plant in Indonesia

* The engineering, production and construction (EPC) contract was signed between China Machinery Engineering Co and Indonesia’s PT Antam Niterra Haltim, a unit of miner Antim, on the sidelines of the Belt and Road Forum in Beijing.

* China’s State-owned Assets Supervision and Administration Commission, which put the value of deals signed at the event in the “tens of billions,” said the smelting project marked only the first phase of the overall plan.

* Chinese firms are increasingly investing in Indonesia for production of nickel, a metal used to make stainless steel and batteries for electric vehicles. (Reporting by Tom Daly, editing by Louise Heavens)

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