JAKARTA – Huaqi, Singapore Pte Ltd will enter the project of the development of Pomalaa Block, Kolaka, Southeast Sulawesi.

Filia Alanda, Corporate Secretary of PT Vale Indonesia Tbk (INCO), confirmed that the company, along with PT Kolaka Nickel Indonesia (KNI) and Huaqi, Singapore Pte Ltd, had signed the joint venture and shares takeover agreement yesterday (27/2).

The agreement was signed alongside the amendment and reiteration of definitive cooperation agreement with Zheijiang Huayou Cobalt Co Ltd.

Pomalaa Block project was initiated on November 27, 3022. The total investment for this nickel refinery plant, which uses high pressure acid leach (HPAL) technology clocks up to IDR 67.5 trillion, aided by 12,000 construction field worker. (LK/ZH)