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View all search resultsIndonesia, Russia ink fertilizer investment deal
Investment and Downstreaming Minister Rosan Roeslani confirmed that state-owned PT Pupuk Indonesia is exploring a significant investment in a urea fertilizer plant in Vladivostok.
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In this photograph distributed by Russian state agency Sputnik, President Prabowo Subianto and Russia's President Vladimir Putin hold a meeting on Thursday on the sidelines of the Eastern Economic Forum in Vladivostok. (AFP/Pool/Vyacheslav Prokofyev)
P
resident Prabowo Subianto announced on Thursday that an Indonesian state-owned fertilizer company has signed a memorandum of understanding (MoU) with a major Russian conglomerate to develop a fertilizer production facility using natural gas sourced from Russia.
The announcement was made during Prabowo’s address as the principal guest of honor at the 11th Eastern Economic Forum (EEF) in Vladivostok, Russia.
"[…] Today, an MoU was signed between our fertilizer company and one of Russia's largest groups to jointly invest in a project to produce fertilizer together using gas from Russia, specifically in the Far East," Prabowo said during the forum.
Read also: Prabowo pitches Eurasia-Southeast Asia economic bridge
While the President did not name the Indonesian company in his remarks, Investment and Downstreaming Minister Rosan Roeslani, who also serves as CEO of state asset fund Danantara, confirmed that state-owned PT Pupuk Indonesia is exploring a significant investment in a urea fertilizer plant in Vladivostok.
“Pupuk Indonesia's president director and I have just signed a joint study agreement to assess the potential for [the firm] to invest in a urea fertilizer project in Vladivostok,” Rosan said in a statement issued by the State Secretariat on Thursday.
The minister emphasized that Pupuk Indonesia's improving financial performance and operational efficiency have positioned the company to expand its footprint overseas. He added that the strategic partnership with Russian counterparts is expected to bolster national material security and industrial resilience.
