China's Huayou, Eve Energy Surge After Investing in USD2.1 Billion Nickel Plant in Indonesia
Tang Shihua
China's Huayou, Eve Energy Surge After Investing in USD2.1 Billion Nickel Plant in Indonesia
(Yicai Global) May 24 -- Shares of Huayou Cobalt and Eve Energy rose after the two Chinese firms agreed to join a group of investors to build a USD2.1 billion nickel processing plant in Indonesia to secure their supply of battery raw materials.
Huayou's stock price [SHA:603799] surged as much as 5 percent to CNY95.45 (USD14.80) intraday.
Shares of Eve Energy [SHE:300014] climbed as much as 3.2 percent to CNY104 (USD16.20).
The pair and three other investors, including Yongrui Holdings, will form a joint venture to process laterite nickel ores on the island of Halmahera, the two said in separate statements today.