The Ceria FeNi operation is planned to be constructed in phases, with Phase 1 establishing the operation of one 72 MVA electric furnace line, Phase 2 operation of the second 72 MVA electric furnace line and Phase 3 the operation of the remaining two 72 MVA electric furnace lines. Once all phases are completed FeNi production capacity will sit at 55.6 kt/a Ni (or 252.7kt FeNi containing 22% Ni), with the FeNi product to be transported as shot. The current timeframe indicates that the first production line (Phase 1) will be completed by PT PP (Persero) Tbk in July 2023 and the next line (Phase 2) will be completed by PT Wijaya Karya (Persero) Tbk around December 2023. In 2022 PT Ceria signed a credit agreement valued at US$277.7 million for the construction of Phase 1 of the RKEF smelter. The company expects commissioning to start in 2024 with commercial output to occur in the same year.