Taiwanese E United Group to invest $700 million in Indonesia to build stainless steel mill
To make sure the supply of laterite nickel ore, one of the main materials for stainless steel, could be stable in the future and to reduce the cost, E United Group, one of the leading conglomerates in Taiwan, has decided to spend US$700 million in Indonesia to build an integrated stainless steel mill.
The program was expected to start in June in 2020, and the annual capacity was expected to reach 2 million tons.
According to the announcement from the chairman of E United Group, the program was now still in paper works and would start when the time is coming.
