Nickel producer Vale Indonesia (INCO) said it has strategic partner for developing smelter project in Bahadopi, Central Sulawesi. It will build a ferronickel smelter in Bahadopi. Vale and said partner are in final negotiation for said project. Both parties willthen set up a joint venture (JV) entity. The smelter project costs for US$1.6-1.8 billion.
Vale also has greenfield projects in Pomalaa, Southeast Sulawesi, producing materials for electric car bateray. The plant project in Pomalaa costs for US$2.5 billion, sourced from the project financing scheme. Vale will set up JV entity with Sumitomo for plant project in Pomalaa.