PT Surya Esa Perkasa Tbk.’s subsidiary PT Panca Amara Utama signs EPC Contract with Toyo Engineering Corporation and PT Inti Karya Persada Tehnik

PT Surya Esa Perkasa Tbk.’s subsidiary PT Panca Amara Utama signs EPC Contract with Toyo Engineering Corporation and PT Inti Karya Persada Tehnik

Jakarta, 27 February 2013 – PT Surya Esa Perkasa Tbk. (“SEP” or the “Company”), is pleased to announce that its subsidiary, PT Panca Amara Utama (“PAU”) awarded an EPC Contract to Toyo Engineering Corporation (Japan, “Toyo”) and PT Inti Karya Persada Tehnik (“IKPT”) today.

The contract will be carried out on a turnkey basis and shall cover Engineering, Procurement, Construction (“EPC”) and commissioning services of a world-scale grassroots 2,000 tons per day capacity Ammonia plant in Luwuk, Central Sulawesi. The Company expects the plant to be completed in the third quarter of 2015.

The plant will be designed using Kellogg Brown & Root’s (USA, “KBR”) Reforming Exchanger System (“KRES”) and Purifier Technology.

The EPC contract marks the second major milestone towards timely commercialization of PAU’s Ammonia plant after the gas supply Heads of Agreement signing on 21 January 2013.

“We are able to progress rapidly with to the help of our valued partners. Toyo, IKPT and KBR are high-performance organizations that will enable us to build a world-class Ammonia facility of the best quality and technology,” said Vinod Laroya, Executive Director, PAU.

Using natural gas from the Senoro-Toili fields (“Senoro”, operated by JOB Pertamina Medco Tomori Sulawesi) as feedstock, PAU will build a 700,000 ton per year ammonia facility at an estimated cost of USD 750 million. PAU expects to take first gas from Senoro by Q1 2015 for pre-commissioning activities, with commercial production expected in Q3 2015. This project supports the government’s directive to maximize domestic utilization and value addition of natural gas, in addition to strengthening national food supply security by encouraging fertilizer production.

For further information please contact:
Kanishk Laroya
Corporate Secretary & Head of Investor
Relations
Tel: +62 21 5790 3701
Fax: +62 21 5790 3702
Email: corporate.secretary@sep.co.id