Weiming Environment announced on January 24 that the company signed a "Project Joint Venture Agreement" with Merit Company, and both parties proposed to establish a project company to invest in a laterite nickel ore smelting project with an annual output of 40,000t of nickel matte (40,000t of nickel-containing metal) in Indonesia and a total investment for not more than USD390 million. The company holds 70% equity of the project company. According to the company's shareholding ratio, this foreign investment amount does not exceed USD273 million.