Global Ferronickel Holdings Inc. (FNI) on Thursday bared plans to diversify into the manufacture of cement and the construction and infrastructure sectors presenting significant growth potential for the business.
FNI president Dante Bravo, at the company’s annual stockholders’ meeting held online, said the business is open to expanding its activities beyond its nickel resources.
“In addition to expanding the resource base, the company plans to venture into value-added processing. This includes the establishment of a ferronickel processing plant and nickel matte processing facility. These processing capabilities enable the company to enhance the value of its nickel products by transforming them into higher grade materials that cater to specific industry needs,” Bravo said.
FNI also plans to establish a battery-grade nickel plant important in making rechargeable batteries and a steel plant to take advantage of opportunities in the renewable energy and electric vehicle sectors.
Bravo added FNI plans to expand its logistics business in Mariveles, Bataan to include the development of warehousing and container terminal services to boost efficiency, reduce costs and strengthen its position as a reliable provider of services throughout the mining supply chain.
Only in March this year, FNI acquired 88 percent of the Mariveles Harbor Corp. for P192 million.
Previously, the company acquired majority control of Seasia Nectar Port Services Inc. for P192 million.
Both companies are based in Bataan where FNI plans developing a rebar and rolled steel plant.
FNI and subsidiaries are the second-largest nickel ore exporters in the country.
