Orica Ltd., the world's largest manufacturer of explosives used in mining and quarrying, said on Tuesday its board has approved the $550 million development of a 300,000 tonnes a year ammonium nitrate plant at Bontang in the Indonesian province of East Kalimantan.The project will supply Indonesia's growing mining industry, the Australian company was quoted by Thomson Financial as saying.
The investment will be made through Orica's joint venture company, PT Kaltim Nitrate Indonesia.
source: Antara | 17 June 2008
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