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August 19,2008

Indonesian govt forms holding company for fertiliser makers
Indonesia’s government has set up a parent holding company for five state fertiliser makers as a step to help solve the problems facing the industry and turn them into world-class companies, reported the country’s news agency Antara on Monday.

Antara reported that the parent holding company, called “PT Agro Kimia Indonesia,” will officially be operational next week pending the shareholders’ general meetings of the five fertiliser makers, PT Pusri, PT Pupuk Kalimantan Timur, PT Pupuk Kujang, PT Petro Kimia Gresik and PT Pupuk Iskandar Muda.

Said Didu, secretary of the country’s State Enterprises Ministry, was quoted by Antara as saying on Monday that the establishment of the parent holding company was aimed at solving the problems facing the fertiliser industry, including gas supplies to fertiliser makers, and focusing on the issues such as investment, production, marketing and distribution particularly within the frame of the government’s programmes on subsidized fertilisers.

In addition, the parent holding company would also try to turn the state fertiliser makers into world-class companies and support the country’s food security program, he said.

“A lack of synergy among state fertiliser makers in producing and distributing fertilisers is to blame for fertiliser shortages in a number of areas in the country,” he said.

In the first phase of its operations, the parent holding company would be tasked with seeking funds to revitalize four fertiliser plants aged more than 30 years, three of them owned by PT Pusri and one by PT Pupuk Kaltim, he said.

“The four fertiliser plants must be revitalized right now so we need an investment strategy which will involve synergy from the state fertiliser companies,” he said.

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