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An aerial view of Zhenshi Indonesia Huabao Industrial Park in Morowali county, Sulawesi island, Indonesia, which is currently under construction. [Photo/jiaxingren.com.cn]

Zhenshi Indonesia Huabao Industrial Park was recently designated a Zhejiang provincial overseas economic and trade cooperation zone by the Department of Commerce of Zhejiang Province, making it the first of its kind in Jiaxing.

Zhenshi Indonesia Huabao Industrial Park, located in Morowali county, Sulawesi island, Indonesia, is a nickel resource comprehensive utilization industrial park led by Zhenshi Holdings Group based in Jiaxing, covering an area of 20,000 hectares.

The park started construction in March 2022, focusing on the production of electricity and energy, red soil nickel ore smelting, comprehensive processing of nickel resources and production of terminal products.

"The world's red soil nickel ore is mainly distributed throughout tropical countries within 30 degrees north and south of the equator. Among them, Indonesia boasts the largest reserves and highest quality. Its nickel ore exports account for about 20 percent of the global total," said Cai Zhengyang, the park's executive general manager.

After smelting, laterite nickel ore will immediately produce nickel iron blocks and nickel hydroxide, which are important raw materials for producing stainless steel. Nickel hydroxide is currently indispensable to the production of high-end new energy batteries.

The park's nickel iron smelting production line is expected to be put into operation by the end of 2023.

Multiple Chinese enterprises have signed contracts to set up operations in the industrial park, which is expected to create about 15,000 jobs for locals.