PT Trimegah Bangun Persada Tbk (NCKL), known as Harita Nickel, is planning to build a stainless steel plant. The project is still under discussion with potential investors.

Roy Arman Arfandy, president director of Harita Nickel, said he hoped the negotiation with investors could be completed by the end of 2023 and start the construction at the beginning of 2024.

With the plant, Harita Nickel will develop the downstream process from saprolite process to ferronickel and finally to stainless steel.

The investment of this project is more than US$ 1 billion, and the annual production capacity will be 2-3 million tons as scheduled.