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Tsingshan Group Secures 10-year Loan of $384 Mln for NPI Smelter in Indonesia
Feb 18, 2014 15:37Source:SMM
Tsingshan Holding Group has secured a ten-year loan with total amount of $384 million from China Development Bank for its 300,000-tpy nickel pig iron project in Indonesia.
SHANGHAI, Feb. 18 (SMM) – Tsingshan Holding Group has secured a ten-year loan with total amount of $384 million from China Development Bank for its 300,000-tpy nickel pig iron project in Indonesia.
Tsingshan’s top official Xiang Guangda signed the loan contract with China Development Bank’s Xiamen branch on Feb. 17, the company said on its website on the same day.
``This is another milestone in Tsingshan’s NPI project in Indonesia after we introduced China-ASEAN Investment Cooperation Fund as a strategic partner,’’ it said.
The project, one of the first NPI smelters outside China, by PT Sulawesi Mining Investment (SMI), demands a total investment of $640 million, it added.
SMI is a joint venture between Indonesia's nickel mining PT Bintangdelapan Group and Tsingshan’s NPI production subsidiary Fujian Dingxin Industries Co.
Tsingshan Holding Group
PT Sulawesi Mining Investment
Tsingshan SMI NPI smelter Indonesia
China-ASEAN Investment Cooperation Fund
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