On March 25th, Greenway announced that Greenway Hong Kong, New Express International Co.,Ltd., DARROW, ECOPRO, Xiangjiang International Holding, Polyfect, GEM and GEM (Indonesia) jointly signed a capital increase agreement on the construction of a new energy nickel raw material project with 20,000 tonnes of nickel per year for the smelting and production of laterite nickel mines in Indonesia.
According to the agreement, all parties agree to jointly invest in the construction of a new energy nickel raw material smelter with an annual output of 20,000 metal tonnes for laterite nickel ore wet smelting in the IMIP park in Morowali County, Indonesia.
Among them, GEM (Indonesia) is the main implementer of the project, with a construction investment of no more than $400 million (approximately Yuan 2.8 billion). The project is designed to have an annual production capacity of 20,000 tonnes of nickel metal, and it is expected to achieve an annual production capacity of 23,000 tonnes of nickel metal.
Edited by Cassie Li, lixiangying@mysteel.com
