Secretary General Expects US$ 600 Million Fertilizer Project between Indonesia and Iran will be implemented soon

Tehran, Iran | August 17, 2007 by D-8 Secretariat

When the Secretary General visited Tehran, Iran, on August 12, 2007, he visited NPC International Ltd of Iran and discussed NPCI-PUSRI Ammonia/Urea Project (or Indonesia-Iran Fertilizer Project/ IIFP) with Dr. A.M. Jamshidi, the Project Director of IIFP.

The IIFP is a US$ 600 million join investment project, with the ownership 50 percent of Indonesia, and 50 percent of Iran. NPIC of Iran provides gas deposit and capital, and Indonesian PT PUSRI, a holding state owned company in fertilizer, provides capitals to build the fertilizer project in Pars Special Economic Energy Zone (PARSEEZ) in Assaluyeh, Iran. This is a model of industrial cooperation among D-8 countries, and well prepared on the feasibility study, therefore is expected to be implemented soon.

Secretary General Dipo Alam explained that possibility of joint investment on industrial cooperation very potential to be implemented by private sectors of D-8 countries. He mentioned in Tehran, that an Indonesian company, P.T. Indorama, has invested in Egypt for a fertilizer company, in Indonesia for Pure Trepthalic Acid (PTA) factories, in Nigeria for a PTA factory, and in Turkey for a spun yarn factory.

The CEO of PT Indorama, Mr. S.P. Lohia, convinced the Secretary General, once D-8 Preferential Trade Agreement, Visa Agreement, Custom Agreement, and other trade facilitations in place soon, he believed that join investment and/or more investment by private sectors increased within D-8 countries. In fact this is the essence of D-8 economic cooperation that is expected "down-to-earth" explained by Secretary General in his office on Tuesday.

Last May 2007, in Kuala Lumpur, Malaysia, on the meeting of D-8 Working Group on Industry, delegates discussed issues and more focus on implementable industrial cooperation among D-8 member states. Next meeting will be in Jakarta, Indonesia, and more details proposed industrial cooperation will be proposed involving state owned enterprises and private sectors.

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