The government has received applications for license to build new bio-fuel factories with a total investment of $1.35 billion.
Data at the investment coordinating board, BKPM, showed that 31 domestic companies and 24 foreign investors have sought license to invest Rp8 trillion ($888 million) and $464 million, respectively in the country’s bio-fuel industry.
BKPM deputy chairman, Achmad Kurniadi said the proposed investment is small compared to the market potential in the country. The government will thus prepare an investment map in the bio-fuel sector for prospective investors to see the real potential, Kurniandi was quoted as saying by Antara.
The basic materials for bio-fuel -- crude palm oil and castor oil -- are easily available in the country.