PT PIM SETS 2009 INCOME TARGET AT RP3.24 TRILLION

Jakarta, Jan 23 (ANTARA) - Fertilizer firm PT Pupuk Iskandar Muda (PIM) has set itself an income target of Rp3.24 trillion in 2009, a spokesman for the company said here on Friday.
Financial expert staff of PIM Yulius Noor said that the income target was set with an assumption that PT Pupuk Iskandar Muda would get gas supply as many as nine shipments in 2009 and its urea fertilizer production would reach 811,000 tons.
"We hope that all of the nine shipments of gas would arrive this year," Yulius Noor said.
He said that his company had signed a purchase contract of gas supply for one shipment in January. The Upstream Oil and Gas Regulating Body (PB Migas) was still arranging supplies for other shipments.
One shipment of gas supply is able to fuel one unit of PIM's factories for a period of two months with a production capacity of about 80,000 - 100,000 tons of urea fertilizer.
He said that the price reached during the gas purchase deal was US$6 per million million British Thermal Unit (mmbtu)," he said.
With one shipment of gas equal to three mmbtu, the purchase deal would be worth about 18 million dollars, Noor said.
He said that his company was now developing a pipeline network which connected the PIM factory with its Unit Two plant nearby.
According to him, the pipeline project which stretched 100 meters was worth US$ 5 million.
"We estimate that in June or July this year the Unit Two of PIM would have been operational in full capacity," Yulius Noor said.
The construction of the Unit Two factory of PT PIM has actually been completed in 2005 but it would not yet be operational due to the unavailability of gas supply. ***2***