Nanjing Iron & Steel to SetUpCoke Project in Morowali in Indonesia
China's Nanjing Iron & Steel Co Ltd <announced that it would invest in a coke plant in Indonesia to sidestep tougher Chinese environmental rules and to
build new capacity closer to major coking coal exporter Australia. Units of Nanjing Iron & Steel, Tsingshan Holding Group, Shanghai Decent Investment Group and others would set up a joint venture to build the plant in Morowali Industrial Park in Morowali regency of Central Sulawesi Province of Indonesia with total investment of USD 383.5 million. Nanjing Iron & Steel will hold 78% in the venture through its unit. The plant will have capacity for 2.6 million tonnes a year.
China produced 471 million tonnes of coke in 2019. But it has been on a drive to curb excess capacity to produce the steelmaking ingredient and has shut down old plants to reduce pollution.
China has also stopped taking coking coal shipments from Australia amid escalating tensions between the two countries, according to media reports in October