JAKARTA (Yosefardi) – PT Surya Esa Perkasa Tbk (ESSA), through its unit PT Panca Amara Utama (PAU), plans to build ammonia plant in third quarter of this year which costs US$830 million.
The plant site is located in Luwuk, Central Sulawesi. ESSA had in September 2014 signed syndicated loan agreement of US$509 million, used to fund the construction of ammonia plant with production capacity of 700,000 tons per year. The loan has tenor of 12 years.
ESSA decided to change its core business to ammonia producer, from current business as producer of liquid petroleum gas (LPG).
ESSA booked net profit of US$2.18 million in first quarter of 2015 on revenues of US$10.77 million. Its assets reached US$139.16 million while liability amounted US$36.69 million.