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Inco Unit to Build 2 New Nickel Plants
Thursday August 2, 4:24 am ET
Indonesian Unit of Inco to Build 2 New Nickel Plants on Sulawesi Island
for $2.5 Billion JAKARTA, Indonesia (AP) -- Canadian nickel miner Inco
Ltd.'s Indonesia unit plans to build two new nickel plants on Sulawesi island
at a cost of $2.5 billion, an Indonesia executive said Thursday. "We expect
to start building the plants next year in an effort to increase our nickel
output to 300 million pounds by 2016," said Arif Siregar, chief executive of PT
International Nickel Indonesia, or PT Inco. The Indonesian company's nickel
output this year is expected to be 165 million pounds. Arif said PT Inco, 61
percent owned by its Canadian parent, will launch an engineering study in
September to decide the financing structure for the development of the plants.
