AGB Energi to invest in jatropha

PT AGB Energi plans to invest US$300 million in a jatropha plantation in North Maluku province, Indonesia. The plan was contained in a memorandum of understanding (MOU) signed by the President Director of PT AGB Energi Kim Tae Sik, North Maluku Governor Thaib Armaiyn and North Halmahera Regency Chief Hein Namotemo in August. In the initial stage of the project, some 100,000 hectares will be cultivated, including 20,000 hectares belonging to PT AGB Energi and 80,000 hectares to be cultivated by local farmers. In the second and third stages, 100,000 hectares each will be cultivated by local farmers. (August 2, 2006)