Posted Wednesday, November 28th 2012
It has been announced that the Growth Steel Group Business Gathering in Conjunction with MoU Signing Ceremony of PT. Indoferro with the Walsin Lihwa Corporation will take place on Wednesday, November 28th, 2012, and will be held at the Gerberra Room, Hotel Mulia Jakarta at 10:00am until 2:00pm .
It is reported that Mr. Chang Wen Chung â€“ President of BG Walsin Lihwa Corp. will be a signatory of the MoU.
The event is to mark the MoU signing in which PT. Indoferro will supply 120,000 tones of NPI, nickel pig iron, to Walsin Lihwa Corp. during the following year.
Also speaking at the event will be;
Mr. Fadjar Suhendra â€“ Chairman of Growth Steel Group,
Mr. Chang Wen Chung â€“ President of BG Walsin Lihwa Corp.,
Mr. I Made Gde Erata â€“ Chairman and Chief Executive Officer of Indonesia Exim Bank,
Direktorat Jendral Perdagangan Luar Negeri,
Direktorat Jendral Perindustrian
Direktorat Jendral MINERBA.
PT. Indoferro is expected to double the production of nickel pig iron (NPI) from 250,000 tones/annum in 2013 to 500,000 tones of nickel pig iron (NPI) in 2014.
Posted Tuesday, November 27th 2012
Tomorrow, Wednesday the 28th of November, will see the signing of a Memorandum of Understanding between PT. Indoferro and Walsin Lihwa Corporation of Taiwan.
The MoU is for the supply of Indoferro's nickel pig iron, produced at their factory located at Cilegon in the Banten district.
Walsin Lihwa Corporation is expected to purchase 120,000 metric tones of nickel pig iron (NPI)in the comming year.
It is not yet known if Mr. Yu-Lon Chiao (Chairman, Walsin Lihwa) will be attending the ceremony or Mr. Wen C. Chang (President, Specialty steel Business Group).
The nickel pig iron (NPI) will be used in the production of stainless steel at Walsin Lihwa's Yen Shui Factory in the Yenshui District of Tainan City, Taiwan.
The corporation has already purchased a trial shipment of nickel pig iron from PT. Indoferro
Indoferro is expected to produce 250,000 tones of nickel pig iron (NPI) in the upcoming year and has plans to expand to 500,000 tones of nickel pig iron (NPI) by 2014.
Next year, 2013, should see the commissioning of further refining equipment to reduce the carbon in the nickel pig iron (NPI) and increase the nickel content of the nickel pig iron (NPI) to 8 to 10%.
Indonesia has tightened the rules for nickel ore exports. This should be good news for the newly completed Indoferro nickel pig iron (NPI) project that has recently started to produce nickel iron with nickel values between 2% to 6% nickel from the first blast furnace in Indonesia producing NPI
The export of nickel ore is due to be banned completely in 2014 and present exports of nickel ore must be licensed under previous agreements but still encounters a 20% tax.
Indoferro says that nickel and nickel pig iron prices are low at the moment as there seems to be ample stocks of nickel and nickel ores overseas.The depressed markets are keeping nickel and other metal prices low but when markets pick up there will be benefits for Indoferro and the nickel pig iron industry in general.
Posted 8th Nov 2012
The Management of Pt. Indoferro have announced plans to install electric arc refining furnaces to allow nickel values of up to 8% and reduce carbon levels in their nickel pig iron products.
Installation of the new equipment will take place in 2013 while the second phase of installing a second hot air blast furnace will also start in 2013.
Peter Suhendra has told us that trials for high percentage and carbon refinement have already been carried out in the Growth Steel Group's Medan steel mill at Pt. Growth Sumatra.
At the completion of the second blast furnace Pt. Indoferro will have a capacity of 500 to 600 tones of nickel pi iron a year.