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China’s Tsingshan plans clean energy plant in Indonesia

China’s Tsingshan plans clean energy plant in Indonesia

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Chinese steel and nickel producer Tsingshan plans to build a 2,000MW clean energy facility in Indonesia in the next 3-5 years.

The firm will build solar and wind power stations and supporting facilities at its Tsingshan and Weda Bay industrial parks in Indonesia. The plant will supply power for the firm’s production of raw materials used in electric vehicle batteries, ensuring its operations emit zero CO2 emissions.

Tsingshan is also on track to build a 5,000MW hydropower project in Indonesia to further ensure clean energy supplies. The exact timeline of this project is unclear.

The firm earlier this month announced it will supply nickel matte, a main feedstock to produce nickel sulphate, to domestic cobalt smelter Huayou Cobalt and new energy materials producer CNGR.

Argus assessed nickel sulphate prices at 35,500-36,500 yuan/t ($5,460-5,620/t) ex-works today, down by Yn1,000/t from 9 March following a fall in nickel metal prices. Import prices were assessed at $3,500-3,800/t cif China on 9 March, unchanged from a week ago. Stock-holding traders offered towards the upper end of the range on expectations of firm long-term demand from the power battery sector.

Source: argusmedia
Anand Gupta Editor - EQ Int'l Media Network