SHANGHAI, Oct. 23 (SMM) – Shandong Nanshan Aluminium Co. said its intended investment in Indonesia is still in feasibility study phase and is full of uncertainties with no conclusion drawn yet.
Shandong Nanshan made the statement to Shanghai Stock Exchange today, in response to media reports of its possible investment in the Southeast Asian country.
The company planed a $5 billion integrated aluminium plant on the Indonesian island of Bintan, Reuters reported earlier this month, citing chairman Song Jianbo. It would be composed of a 2.1-million-tpy alumina factory and a 530,000-tpy aluminium smelter, the report said.
To cope with uncertainties in regard to Indonesia’s export policies from 2014, Shandong Nanshan has increased imports of bauxites from India and Guinea, and has maintained a high inventory of the raw material, it said in its interim report earlier.