Pusri Considers Reviving $600m Iran Fertilizer Project
March 12, 2010
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The government said on Friday that the country’s biggest fertilizer producer, state-owned PT Pupuk Sriwijaya, may restart a previously planned $600 million fertilizer-factory project in Iran as political conditions in the country have improved of late.
“It’s pretty interesting as that country’s political risk is not too worrying anymore,” said Mustafa Abubakar, the minister for state-owned enterprises. “We’re currently re-establishing the feasibility study in Iran to continue the plan. It will be a joint-venture with an Iranian company.”
In September, Dadang Heru Kodri, president director of the company, which is also known as Pusri, said the project had been put on hold because of the global economic crisis. Muhammad Said Didu, the secretary of the SOE Ministry, said the political risk in Iran was the main reason.
JG
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