JBIC, Indonesia's Pupuk to work on ammonia, hydrogen

Japan Bank for International Cooperation (JBIC) and Indonesian fertilizer company Pupuk Indonesia have signed a memorandum of understanding (MoU) to promote cooperation in hydrogen and ammonia, JBIC said on May 24.

JBIC said that Pupuk is committed to decarbonising its operations and cooperating with Japanese companies in clean ammonia projects. The MoU will help to accelerate the structuring of projects for developing the supply chain of hydrogen and ammonia as a fuel source. It will also contribute toward promoting multiple initiatives, including the Asia Zero Emissions Community (AZEC) concept.

The parties will continue to cooperate to create business opportunities for Japanese companies and secure a stable supply of resources for Japan, JBIC said.

As Japan's policy-based financial institution, JBIC said, it will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthened cooperation with important partners in the decarbonisation sector.