News Snapshot:
“It’s a $US100 billion-plus opportunity with the potential to significantly change the Indonesian economy – and help underwrite a decade of growth for Australia.” At one point Mr Xiang, chairman of the Tsingshan Holding Group, the world’s largest stainless-steel producer, and Fortescue Metals Group’s Andrew Forrest were set to spearhead investment in the ambitious plan to dam rivers and accelerate industrialisation in the sparsely populated province. Now a Tsingshan-backed company, Taikun Petro Chemical, has begun construction at the park, alongside Indonesian giant Adaro Energy. The 600 hectares reserved nearby for Fortescue’s planned ammonia and hydrogen factory are vacant with no...
