Chinese representatives on Monday signed an agreement with Indonesian officials to invest US$6 billion in a nickel smelter in Southeast Sulawesi.
Jilin provincial government’s Jilin Horoc Nonferrous Metal Group Co Ltd will develop the nickel smelting industry in Bombana and North Konawe regencies of Southeast Sulawesi and work with local firm Billy Indonesia with operations starting next year.
“First of all, mining materials should be processed domestically — no more raw material exports. Secondly, there will be job creation for
thousands of people,” Coordinating Economic Minister Hatta Rajasa said after witnessing the agreement by representatives and officials of the related firms, regencies and provinces.
Hatta and Investment Coordinating Board (BKPM) chairman Gita Wirjawan said they expected the project to have a multiplier effect on the regencies’ economies and create jobs for local residents.