Indonesia's state-run fertilizer company PT Petrokimia Gresik will purchase 300,000 to 400,000 metric tons of phosphate rock from Egypt's El-Nasr mining company over a one-year period. The phosphate rock, at $30 per ton, will be used as raw material for fertilizer.
The first 300,000 metric ton shipment will be dispatched to Indonesia in July 2003. The deal, funded with the assistance of the Islamic Development Bank (IDB), was concluded in a Memorandum of Understanding (MoU) recently signed between Indonesia’s agriculture ministry and the government of Egypt.
In addition, the two governments agreed on the purchase of sugar-milling machines from Egypt, again with IDB funds. MoUs were also signed with private Indonesian firms PT Astra Agrolestari and PT London Sumatera providing for the acquisition of 30,000 tons of Egyptian crude palm oil (CPO) per month. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
