JAKARTA -- Indonesia's largest fertilizer maker, Pupuk Kaltim, is accelerating its expansion to help fill a global market gap sparked by Russia's invasion of Ukraine, with demand set to stay high for some time.
The state-owned company, flush with proceeds from two straight years of record profits, is speeding up at least $1.5 billion in spending for projects to meet rising demand resulting both from the war and lingering effects of the coronavirus pandemic.
