JAKARTA (Yosefardi) – PT Surya Esa Perkasa Tbk (ESSA) plans to change its core business to ammonia producer in 2016, from current business as producer of liquid petroleum gas (LPG), Bisnis Indonesia reported this morning.
With new business, the company target to book operating income of US$300 million per year. Currently the company is constructing ammonia plant in Luwuk, central Sulawesi.
The plant is targeted to complete its construction in third quarter of 2015, then to commence production in early 2016. This plant, managed by its unit PT Panca Amara Utama, will have production capacity of 700,000 tons of ammonia per year..
The contruction of ammonia plant will cost US$750 million. ESSA bears investment cost of US$127 million, or 16.93% of total cost, funded by International Finance Corporation (IFC), member of World Bank Group.
Also involved in the project are Toyo Engineering Corporation and PT Inti Karya Persada Tehnik. Panca Amara Utama holds 60% interest in the project.