Toyo wins RI contract

Toyo wins RI contract

TOKYO (Nikkei): Toyo Engineering Corp. leads a group that has won a Y35 billion contract from an Indonesian concerns to build two fertilizer plants on the island of Sumatra, The Nihon Keizai Shimbun Thursday morning edition reported.

The project will be partially financed by loans from the Export-Import Bank of Japan.

This is the first major plant construction deal concluded by Indonesia since late last year, when that country's economic crisis disrupted negotiations on such projects. To boost food supply, the Jakarta government has put top priority on the fertilizer plants.

Pupuk Iskandar Muda wants two fertilizer plants - an ammonia plant with a daily capacity of 1,200 tons and a urea plant of 1,725 tons.