Philippines' Global Ferronickel, China's Baiyin to set up $700m steel plant

Philippines' Global Ferronickel, China's Baiyin to set up $700m steel plant

Visual from Global Ferronickel's website

Listed nickel producer Global Ferronickel Holdings Inc (FNI) and China’s Baiyin Nonferrous Group Co Ltd are partnering to set up a stainless steel plant in the Philippines estimated to cost up to $700 million.

FNI chairman Joseph Sy and Baiyin chairman Liao Ming signed a Memorandum of Cooperation (MoC) during President Rodrigo Duterte’s state visit to China to boost trade and economic collaboration between the two nations.

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