PT Pupuk Indonesia Holding Company, a state run parent company in fertilizer sector, is preparing US$5.6 billion for the next 4 years to finance several projects.
Those projects include energy conversion project from gas to coal for power plants in all state-owned fertilizer companies, PT Pupuk Kalimantan Timur (PKT), PT Petrokimia Gresik (Petrogres), PT Pupuk Kudjang Cikampek (PKC), PT Pupuk Sriwidjaja Palembang (Pusri), PT Pupuk Iskandar Muda Aceh (PIM).
Besides conversion program, the investment will be allocated for establishing of phosphoric acid plant in Gresik, East Java. According to the estimation, the phosporic acid plant will cost between US$200 million and US$250 million.
