Zhejiang Weiming Environment Protection Co.Ltd(603568) : it is proposed to build a high nickel matte project with an annual output of 40000 tons in Indonesia

On January 5, Zhejiang Weiming Environment Protection Co.Ltd(603568) announced that the company plans to invest in and build a laterite nickel ore smelting project with an annual output of 40000 tons of high matte nickel containing metal (Indonesia), an annual output of 40000 tons of high matte nickel containing metal, and the total investment of the project will not exceed 390 million US dollars.

The announcement shows that the project is located in weda Bay Industrial Park, hamahela Island, Indonesia, with a total investment of no more than 390 million US dollars. According to the share ratio of the company, the amount of this foreign investment does not exceed USD 273 million, equivalent to RMB 1.739 billion.

It is reported that on November 24, 2021, the controlling shareholder of the company, Weiming Group Co., Ltd. and indigo International Investment Limited (hereinafter referred to as “Indigo company”) signed the strategic cooperation framework agreement on the high matte nickel project. The project company will be jointly established by the joint stock company or its holding subsidiary and merit company, a subsidiary of indigo company. The company holds 70% and merit company holds 30%, with a total investment of no more than 390 million US dollars.

Industry experts believe that compared with lithium iron phosphate and medium nickel ternary batteries, high nickel batteries can better meet the comprehensive demands of the consumer market for new energy vehicles in terms of mileage, power consumption and cost. Especially in the medium and high-end new energy vehicle market, high nickel batteries have more voice and will be the mainstream application in the medium and high-end new energy vehicle market in the next five years, In the future, the market demand for nickel will also usher in a blowout. According to the agency’s prediction, the demand for nickel for power batteries will soar from 139000 tons in 2020 to 1.4 million tons in 2030, accounting for 30% of the total demand for nickel.

The relevant person in charge said that the new energy market is another important layout of the company in addition to solid waste treatment and environmental protection equipment, which means that the company will officially enter the new energy field, break through the existing business pattern and open a new development situation.

(China Securities Journal · China Securities Network)

 

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