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Jakarta Post

Eramet to kick off $5.5 billion smelting project mid-2013

  • Linda Yulisman

    The Jakarta Post

Jakarta   /   Sat, February 9 2013   /  11:04 am

French mining and metals group Eramet SA, which runs the world’s biggest ferronickel plant, is scheduled to start its US$5.5 billion nickel smelting project in Maluku in the middle of this year.

Executives of Weda Bay Nickel, a subsidiary of the group that will execute the project, revealed the plan after meeting with Industry Minister MS Hidayat and industry officials in Jakarta on Friday, discussing, among other things, a proposed tax holiday and regulations regarding the investment.

The Industry Ministry’s director general for manufacturing-based industry, Panggah Susanto, said the planned smelter on Halmahera Island, North Maluku, was scheduled to begin commercial operations in the middle of 2018.

“The initial investment will amount to $3.3 billion, and later it will likely expand to complete the project to reach $5.5 billion,” Panggah announced after t...