Today.Az » World news » Indonesia to resume $600 million fertilizer project in Iran
13 March 2010 [15:22] - Today.Az
The Indonesian government says it plans to resume setting up a joint 600-million-dollar fertilizer factory project in Iran.
“We're currently reestablishing the feasibility study in Iran to continue the plan. It will be a joint-venture with an Iranian company,” said Mustafa Abubakar, the minister for state-owned enterprises said on Friday.
Abubakar said the state-owned PT Pupuk Sriwijaya, Indonesia's largest fertilizer producer, will resume the previously planned project due to better political conditions in the Islamic Republic.
“It's pretty interesting as that country's political risk is not too worrying anymore,” Abubakar remarked, referring to the continued political stability of the Islamic Republic.
Last year, Dadang Heru Kodri, president of the company, said that the project had been put on hold because of "the global economic crisis.”