Pusri seeking lower gas price
Monday, October 29 2001 - 01:43 AM WIB
South Sumatra fertilizer firm PT Pupuk Sriwijaya (Pusri) is seeking a lower gas price to save money to help finance plant renovation, the local Sriwijaya Post daily reported Monday.
Company president Zaenal S. said that the call for a lower gas price had been discussed with the state-owned oil and gas firm Pertamina and the government, and the result would soon be presented to President Megawati Soekarnoputri.
He said that since Pusri?s facilities on average were already 25 years old, the company must soon make renovation.
He said that the overhaul of five plants would cost some US$1.6 billion.
Zaenal said that saving money by obtaining a lower price of gas, raw material in fertilizer production, would help the company in realizing the restoration plan.
He said that the current gas price of between 1.35-1.85 U.S. cents per cubic meter was too expensive.(*)