Walsin Lihwa was approved by the board of directors last week that it will form an alliance with Dingxin Group, a subsidiary of Tsingshan Group, to invest in a nickel pig iron (NPI) plant in Indonesia. It was expected to start production in the third quarter as soon as 2021.
This project made Walsin Lihwa to become the first Taiwanese nickel pig iron plant in Indonesia, and Walsin Lihwa will enhance its international competitiveness by mastering the raw material of stainless steel.
The board of directors of Walsin Lihwa has passed the resolution that it will invest US$50 million to establish Walsin Nickel Industrial Indonesia.
The firm will hold 50% of the shares in the future and cooperate with NEW Hono Investment Pte. Ltd.and Perlux Investment Pte. Ltd. to set up the nickel pig iron plant and power plant in central Indonesia to produce pure nickel.