INDONESIA TO SPEND US$1.4 BLN FOR BIOFUEL DEVELOPMENT
Jakarta (ANTARA News) - The Indonesian government is setting aside a fund of 13 trillion rupiah (1.4 billion USD) and nearly 500,000 hectares of land for the development of the country`s fledgling biofuel industry next year, according to a local newspaper.
Most of the fund, about 10 trillion rupiah, will go to the development of infrastructure -- such as irrigation systems and access roads -- in areas earmarked for biofuel plantations. Meanwhile, about 2 trillion rupiah will be used for buying plant seeds.
The Jakarta Post newspaper reported that Indonesian banks were prepared to channel up to 20 trillion rupiah (2.2 billion dollars) in loans to the biofuel industry.
The Indonesian government has so far secured commitments from eight private-sector firms for the planting of 500,000 hectares with oil palm, sugarcane and cassava, Alhilal Hamdi, head of the government`s biofuel development committee, was quoted by Jakarta Post as saying.
Alhilal had previously said that 6.5 million hectares of idle land would be allocated to investors interested in planting biofuel crops.
The Indonesian government wants to see biofuel to account for 10 percent of the country`s total fuel consumption by 2010, he said.
Most of the fund, about 10 trillion rupiah, will go to the development of infrastructure -- such as irrigation systems and access roads -- in areas earmarked for biofuel plantations. Meanwhile, about 2 trillion rupiah will be used for buying plant seeds.
The Jakarta Post newspaper reported that Indonesian banks were prepared to channel up to 20 trillion rupiah (2.2 billion dollars) in loans to the biofuel industry.
The Indonesian government has so far secured commitments from eight private-sector firms for the planting of 500,000 hectares with oil palm, sugarcane and cassava, Alhilal Hamdi, head of the government`s biofuel development committee, was quoted by Jakarta Post as saying.
Alhilal had previously said that 6.5 million hectares of idle land would be allocated to investors interested in planting biofuel crops.
The Indonesian government wants to see biofuel to account for 10 percent of the country`s total fuel consumption by 2010, he said.
posted by Zumrowi Yunus at
3:48 PM
2 Comments:
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Voip Service, at Wednesday, February 01, 2012 1:51:00 PM
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