Fertilizer firm reports increase in earnings<\/p>\n
JAKARTA (JP): PT Pupuk Kaltim, a state-owned fertilizer
\ncompany based in Bontang, East Kalimantan, registered a more than
\n200 percent increase in its profit last year to Rp 80 billion
\n(US$37.20 million) from Rp 25.6 billion in 1993.<\/p>\n
The company's president, Suratman, attributed the robust
\ngrowth in earnings to the sharp increase in the production of
\nurea and ammonia and the rise in prices.<\/p>\n
\"Productions of all three urea and ammonia plants operated by
\nthe company surpassed the company's original targets,\" he told
\nreporters at a year-end press briefing at the industrial site in
\nBontang on Saturday.<\/p>\n
The company produced 1.81 million tons of urea and 1.37
\nmillion tons of ammonia in 1994.<\/p>\n
Suratman said that 321,000 tons of the total ammonia
\nproduction were exported to the Philippines, India, Taiwan and
\nChina, 398,000 tons sold to PT Petrokimia, a state-owned
\npetrochemical firm in Gresik, East Java, and the remainder used
\nfor the company's urea production.<\/p>\n
Around 430,000 tons of the urea production were exported and
\nthe remainder sold on the domestic market.<\/p>\n
The West Java-based PT Pupuk Kujang, another state-owned
\nfertilizer company, also reported an increase in its urea and
\nammonia production.<\/p>\n
The company's urea production reached 536,325 tons last year,
\none percent above the original projection of 535,815 tons, while
\nits ammonia production reached 349,728 million tons.<\/p>\n
Eddie Madnawidjaya, the company's president, said that the
\n1994 production level was considered high as most of its
\nproduction equipment needed upgrading.<\/p>\n
He said that the construction of the second production unit is
\nurgently needed to enable the company to tap the growing
\nfertilizer demand expected in the next five years.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/fertilizer-firm-reports-increase-in-earnings-1447893297",
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