Orica okays $550m investment to build E. Kalimantan ammonium nitrate plant
Tuesday, June 17 2008 - 12:26 AM WIB
World?s top explosives producer Orica Limited announced on Tuesday that it had approved establishment of a 300,000 TPA ammonium nitrate plant in Bontang, East Kalimantan with an estimated investment of US$550 million.
The investment will be made through JV company PT.Kaltim Nitrate Indoensia, the company said.
??The establishment of the plant complements Orica's existing strong market position as well as enabling Orica to participate in and support the further growth of the Indonesian mining industry,? Orica said.
The company did not say when the plant would become onstream. (alex)