Date 2008 – Ongoing
Deal: According to Press TV, the Indonesian company PT Pusri and the National Petrochemical Company of Iran signed their first Memorandum of Understanding in March 2008, to produce fertilizer, urea, and ammonia at the Hengam Complex. The deal was worth approximately $726 million over four years (Press TV (Iran), March 12, 2008).
In June 2010, PT Pusri announced that it has decided not to move forward with the fertilizer plant, according to an Indonesian news source. The source noted that the company had pulled out because of numerous factors, including "investment capital risk" (Indonesia Today, June 10, 2010).
An Indonesian news source reported in August 2010 that under new management, PT Pusri decided not to withdraw from the fertilizer plant in Iran (Bisnis Indonesia Online, August 27, 2010).
U.S. Business Ties: According to USASpending.gov, the company has not received any U.S. government contracts (USASpending.gov, accessed August 6, 2014).
Last Updated: August 6, 2014