ASEAN govts liquidate AAF

The governments have decided to liquidate the ailing PT ASEAN Aceh Fertilizer plant in Aceh because of problems supplying natural gas to the factory, the Jakarta Post reported on Tuesday quoting Minister of Industry Andung A Nitimihardja as saying, The Jakarta Post reported on Tuesday.

Andung told the House of Representatives Commission VI overseeing industry and trade affairs that the decision to liquidate AAF was taken during a company shareholder meeting on Saturday.

"An extraordinary shareholder meeting decided on Saturday to liquidate AAF as there is no certainty of the gas supply to the company," he said.

AAF is a regional joint venture under which Indonesia, through PT Pupuk Sriwijaya (Pusri), holds 60 percent of AAF shares, while Malaysia, the Philippines and Thailand each have a 13 percent-stake, and Singapore has 1 percent equity through Temasek Holdings Pte.

The minister said the government would maintain the operations of another fertilizer manufacturer, PT Pupuk Iskandar Muda in Aceh.(*)