Indonesia, Russia ink fertilizer investment deal
Indonesia's state-owned fertilizer company, PT Pupuk Indonesia, has signed a memorandum of understanding to invest in a urea fertilizer plant in Vladivostok, Russia. The project will utilize Russian natural gas to boost production capacity.
Why it matters
This deal signals strengthening economic ties between Indonesia and Russia, specifically in the energy and agricultural sectors.
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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.
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.
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