Indonesia-India:PT Antam, India`s Jindal to build nickel, steel smelter

05/14/08 14:26

Jakarta (ANTARA News/Asia Pulse) - Indonesian mining company PT Antam Tbk (JSX:ANTM) and India's Jindal Stainless Limited (BSE:532508) have agreed to build a nickel and stainless steel smelter in the Republic's Southeast Sulawesi province.

"In its initial phase of operations the smelter will have an annual production capacity of 20,000 tons of nickel and 250,000 tons of steel, mostly high-quality stainless steel of the series 300," Antam President Director Dedi Adytia said on Tuesday. He said the smelter would be 55 per cent owned by Antam and 45 per cent by Jindal.