SHANGHAI, Jun. 20 (SMM) - China’s Delong Holdings Limited plans to build a stainless steel factory in the Morowali Industrial Park in Central Sulawesi, Indonesia, the Jakarta Post reported.

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The plant, with an investment of around $950 million, is designed to have production capacity of 3.5 million tonnes.

Delong’s subsidiary, Delong Steel Singapore Projects Pte Ltd. will own 45% of shares of the joint venture, while 43% will be owned by Shanghai Decent. The remaining 12% will be owned by PT Indonesia Morowali Industrial Park.

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The plant will manufacture steel bars, wire and slab, according to the report.

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