Aug 22, 2011

INCO to invest US$1.5 bio for expansion

Nickel miner PT International Nickel Indonesia (INCO) is planning to invest US$1.5 billion in the next 5 years to jack up production capacity to 120,000 tons a year from 72,500 tons.
"Expansion is aimed to respond the global demand for nickel. The capacity expansion is targeted to complete by 2016," said President Director Tony Wenas as quoted by Investor Daily tiday.
The company will finance the expansion plan with internally generated cash flow. INCO has two projects set to boost production such as rebuilt and furnace production facilities and starting to explor Bahodopi block in Central Sulawesi.

Disclosure: No position at the stock mentioned above.

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