Surya Essa sees C. Sulawesi ammonia plant to start ops in 2015
Saturday, December 14 2013 - 03:53 AM WIB
IDX-listed firm PT Surya Essa Perkasa reported that its 700,000 MTPA ammonia plant in Central Sulawesi will start production in the third quarter of 2015.
According to a presentation material filed with the IDX on Friday the project will cost US$750 million, of which $500 million will be funded by loan. The company has signed a mandate letter with the International Finance Corporation (IFC), which will also hold a 10 percent stake in the project.
The company has a 59.98 percent stake in PT Panca Amara Utama (PAU), the owner of the project
According to the company, PAU has been allocated 55 MMSCFD of gas from the Senoro-Toili gas field, Donggi- Senoro until December 2027.
On 27 February, 2013 PAU awarded an EPC Contract to Toyo Engineering Corporation and PT Inti Karya Persada Tehnik.
Editing by Reiner Simanjuntak