Jinguang Group and Shenzhen Muchuan Co., Ltd. Set Up Guangxi Jinyuan Nickel Co., Ltd.

Guangxi Jinyuan Nickel Co., Ltd. is a large industrial enterprise set up jointly by Jinfoyuan Stainless Steel Co., Ltd. under Jinguang Group and Shenzhen Muchuan Co., Ltd. in Fangchenggang City.

With approval from the People’s Government of Guangxi Zhuang Autonomous Region, Jinguang Group invested 5 billion yuan to set up Guangxi Jinyuan Nickel Co., Ltd. in Fangchenggang City of Guangxi. It was a major project signed at the briefing entitled “Teaming up with Sichuan to Develop Guangxi Beibu Gulf Economic Zone”.

Located in Zone B of Southwest Harbor Industrial Park of Fangchenggang City, the joint venture covers an area of some 100 hectares. It produces nickel alloy with imported lateritenickel ore through HATCH’s rotary kiln - electric furnace (RKEF) process. The production process was designed by China Enfi Engineering Corporation. Under the project, there are six production lines with an annual capacity of 52,000 tons of nickel (315,152 tons of nickel alloy, with nickel content being 16.50%), four 36MVA rectangular electric furnaces, two 72MVA rectangular electric furnaces, and three sets of refining systems. All links of the project reached international advanced levels. When it is put into production, the project is expected to yield annually operating income of some 8 billion yuan in average , net profit of 956.6 million yuan , and taxes of 651 million yuan .Meanwhile, it will creat about 1,400 jobs in the local area.