Revitalization of sugar and fertilizer industries requires Rp 70.6t
"The majority of the budget or Rp 47.1 trillion will be used to finance fertilizer industry Revitalization, while the rest will be for the sugar industry," Industry Minister MS Hidayat told reporters during his official report announcement on the 100-day program of industry ministry in Jakarta on Monday.
Hidayat explained that USD 45.2 trillion would be used to finance Revitalization of urea factories while USD 1.9 trillion for NPK factories.
According to Hidayat, constitutes an important fertilizer materials for the agriculture sector and the demand for the product increases every year.
"However, several fertilizer factories are now in poor condition and are not efficient anymore," he said, adding that the government predicted the fertilizer production from those factories would not be enough to fulfill the fertilizer demand in the country.
The Revitalization of the fertilizer industry is expected to help meet the domestic fertilizer consumption, which was projected to jump to 23.2 million tons by the year 2025 from only about 1.4 million tons per year in 2009.
