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Solway to Build Smelter

JAKARTA, Indonesia — Solway Group on Thursday confirmed plans to build an Indonesian nickel smelter with the capacity to produce 50,000 tons of the metal a year.

"We expect to start production in 2014," said Vasily Tsarev, consulting partner for Solway in Indonesia, adding that capacity could be expanded to 80,000 tons. Hatta Rajasa, Indonesia's chief economic minister, said Monday that the Russian firm planned to invest $3 billion to build the smelter on Halmahera island in eastern Indonesia.

(Reuters)

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