BEIJING, June 28 (Xinhua) -- Xinxing Ductile Iron Pipes Co., Ltd. (000778.SZ) announced that it plans to increase capital of 13.47 million U.S. dollars to MSP Indonesia through its wholly-owned Singapore unit to invest in the construction of the MSP phase II nickel-iron project in Indonesia.
Phase I of MSP nickel-iron project in Indonesia is currently in sound operation, the company said.
The construction of the second phase includes 4 sets of 36MVA rotary kiln - Furnace RKEF nickel-iron production line, 2 sets of 65MW high temperature and ultra-high pressure primary recirculation generator sets, and supporting public and auxiliary facilities.
The company expects that the total investment for the second phase of the project will be 352 million U.S. dollars. It is estimated that payback period for the MSP Phase II project will be 5.64 years. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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