April 9, 2022
Ceria, through its subsidiary Ceria Metalindo Prima, signed the loan agreement with Bank Mandiri, Bank Jawa Barat Banten and Bank Sulawesi Selatan Barat
Indonesian nickel company Ceria Nugraha Indotama has secured a $277 million syndicated loan from domestic banks to help fund $2.2 billion in processing projects, the Asian country’s energy ministry said from the South East.
Ceria, through its subsidiary Ceria Metalindo Prima, signed the loan agreement with Bank Mandiri, Bank Jawa Barat Banten and Bank Sulawesi Selatan Barat.
It will fund the construction of the single-line rotary kiln electric kiln plant in Southeast Sulawesi province, which will have a capacity of 23,000 tons per year.
Indonesia, the top nickel producer, has ambitious plans to process its rich reserves of nickel laterite ore used in lithium batteries and eventually become a global center for the production and export of electric vehicles.
Ceria plans to build four lines of rotary kiln electric kiln plants with an overall production capacity of 252,000 tons of ferronickel as well as a high-pressure acid leaching plant with a capacity of 103,000 tons of iron precipitate. mixed hydroxide per year.
The first line of the electric rotary kiln plant is expected to start commercial production in 2023 and the acid leaching plant in 2024.
Ceria Chairman and CEO Derian Sakmiwata, in a statement from the Ministry of Energy, said that once fully operational, the $2.2 billion facility will employ 5,000 people.
- Reuters, with additional editing by George Russell