On April 9, Qingdao Zhongcheng released its 2020 Annual Report and the First Quarter Report of 2021. According to the report, by the end of the first quarter of 2021, 89% of the complete equipment contract and 49% of the construction contract of its overseas project -- the 2*65MW coal-fired power plant project in Qingdao Indonesia Comprehensive Industrial Park have completed the complete equipment contract and 49% of the construction contract.
For RKEF Smelting Project Phase I (4*33MVA Nickel Iron FurnACE), the completion progress of complete equipment contract was 61%, and the completion progress of construction contract was 29%.
According to MySteel, the RKEF Ni-Iron Smelting Project of Qingdao Indonesia Comprehensive Industrial Park, which is cooperated by Taishan Iron and Steel and Qingdao Urban Investment Co., Ltd., is located in Laroenai Village, Bungku Pesisir, Morowali City, Kendali City, Sulawesi Province, Southeast Indonesia.
The project was officially launched on September 25, 2019. The first phase is a 4×33MVA RKEF ferro nickel smelting production line, with an annual output of about 260,000 tons of ferro nickel (Ni:11.5%). No. 6 Metallurgical Machinery Co., Ltd. won the bidding for the equipment installation project (construction of 4 φ4.8/φ3.8×100m rotary kilns, 4×33MVA electric furnaces and public auxiliary facilities).
The project is scheduled to start production at the end of 2021 and will need about 2.5 million tons of high-grade nickel ore in a year.
Now Qingdao Chinese intermediate group co., LTD., Canada held at kalimantan province coal mine about 2212 hectares (the company holds a 80% stake in the company), east of holding mine about 1253 hectares (the company holds a 76% stake in the company), nickel mines in Indonesia sulawesi province held Madani about 2014 hectares (the company holds a 95% stake in the company), hold the BMU nickel mine about 1963 hectares (company of the nickel ore hold 80% of earnings), the company has obtained the mineral exploration right and mining right.
The Company's acquisition of approximately 476 hectares of manganese ore in Timor Island, Indonesia, in which the Company holds 49% equity, was completed on March 26, 2021.
