SHANGHAI, Oct. 25 (SMM) - China’s Baiyin Nonferrous Group will build an integrated #200 stainless steel plant in the Philippines in a long-term strategic partnership with Global Ferronickel Holdings Inc. (FNI), news from Manila reported.

The plant, with an estimated total investment of about $500 to 700 million, is designed to have an annual capacity of one million tonnes, sourcing low-grade nickel ore from the Philippines.

The two companies signed a Memorandum of Cooperation (MoC) during President Rodrigo Duterte’s state visit to China.

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