Jakarta (ANTARA News/Asia Pulse) - State-owned fertilizer company PT Pupuk Sriwijaya (Pusri) will build an urea fertilizer plant in Iran with a capacity of 3,500 tons a day.
PT Pusri and National Petroleum Company International (NPCI) of Iran will be fifty-fifty owners of the plant, which is estimated to cost US$600 million, an official of Iranian embassy said.
Head of the Economic Section Mahmoud R. Radboy said the project will be financed with equity and loan from Asian Development Bank (ADB).
Engineering, procurement and construction studies are expected to be completed before the end of this year and construction will take around 18 months, with completion scheduled for 2009, Radboy said.
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