The signing of the investment agreement was a follow-up to the prior agreement and marks the final decision of each party on their investment in this project. Representing Vale Indonesia were Adriansyah Chaniago, vice president director, and Bernardus Irmanto, CFO. Meanwhile, Song Zhaojun represented Xinhai Technology as vice general manager. Gao Feng, president assistant of TISCO, also signed the agreement by Zoom from another city.

Present at the event in Jakarta yesterday was Energy and Mineral Resources Minister Arifin Tasrif, along with representatives from Central Sulawesi province, PT Vale and the China-based companies. Several esteemed guests, such as the regent of Morowali, Drs. Taslim, and CEO Febriany Eddy were also present virtually by Zoom.

“With Vale's presence in the city of Morowali, we also hope that there will be other positive values, especially those related to helping those in the Morowali district,” said regent Taslim. “Of course, we also hope that the presence of PT Vale and its partners can provide, or do and empower especially, local companies in Morowali district. We, as the Morowali administration, are ready to fully contribute to the investment activities of PT Vale and its partners.”

The project will build an RKEF ferronickel processing facility with a projected annual production of up to 73,000 metric tons of nickel, along with other supporting facilities, utilizing gas fuel power to supply electricity. The facility will be the second-lowest carbon intensity plant after Sorowako facility.

“We’ve crossed an important milestone for the Morowali Block Project. To start, I would like to comment on the team's achievement. Together we have come a very long way, and we are very proud of this project. We are ready to deliver our project. This is a very important day for Vale, for our partners and for Indonesia,” said Deshnee Naidoo, president commissioner of PT Vale Indonesia. She was present at the event virtually by Zoom, as she was in Ontario, Canada.

The nickel processing facility development project is targeted to be completed and the plant is targeted to start operating in 2025. Deshnee revealed that the Bahodopi block would use liquefied natural gas (LNG) as an energy source, keeping the commitment of being environmentally friendly to surrounding areas and toward the common goal of decarbonization. With the LNG, it is expected to produce the second-lowest carbon-intensity product in Indonesia, after PT Vale's Sorowako facility.

“We hope that investors who come will take care of the natural environment in Central Sulawesi. If it is according to the plan in this initial phase, PT Vale will build a financial institution with a capacity of millions of seeds per year, or larger than the same facility in Sorowako. So, it started with an opportunity, through a program to empower the community, also to encourage villages in our area, to provide empowerment in the agricultural sector, in the health sector to sports development for the younger generation,” said governor Rusdy through a representative.

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