Thursday October 05, 2006

Jakarta to invest 2 trillion rupiah in biofuels projects

business-times.asia1.com.sg :

Indonesia's government will invest two trillion rupiah (S$345 million) in a company that will promote the production and export of fuels made from crops such as oil palms and sugarcane. Indonesian President Susilo Bambang Yudhoyono is turning to agriculture, provider of about 40% of the nation's jobs, to lower rural unemployment.

Mr Yudhoyono has tried to meet his pledge to cut poverty by half, keep prices in check and create more jobs for the country's 242 million population. Indonesia's jobless rate rose to 10.4% in February from 10.3% a year earlier. The world's fourth most populous nation has 40 million people living on 17 cents a day. Indonesia, South-east Asia's biggest oil producer and user, imports a third of its oil requirements.

See also :

1. Indonesia to cut LNG supply to 6 million tons after 2010
2. Indonesia's LNG supremacy wanes as Chevron's fields run short
3. Malaysia, Indonesia to set aside palm oil for biodiesel
4. So much for biodiesel

(2006-10-05 21:53:38 SGT) [Energy] Permalink

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