Tue, 26 Sep 2006
Rp 13 trillion earmarked for biofuel development

Urip Hudiono, The Jakarta Post, Jakarta

The government is setting aside a total of Rp 13 trillion (US$1.4 billion) and nearly 500,000 hectares of land for the development of the country's fledgling biofuel industry next year.

The package comprises an additional Rp 12 trillion to the Rp 1 trillion allocated under the 2007 budget to subsidize the interest payments on loans taken out for biofuel-related ventures, the head of the government's biofuel development committee, Alhilal Hamdi, said during a hearing with the House commission on energy Monday.

The additional money will consist of Rp 10 trillion for the development of infrastructure -- such as irrigation systems and access roads -- in areas earmarked for biofuel plantations, said Alhilal.

The remaining Rp 2 trillion is for the procurement of seedlings.

Financial support for biofuel development also will come from the banking sector, Alhilal said, adding that the country's lenders were prepared to channel up to Rp 20 trillion in loans to the industry.

Regarding biofuel plantations, Alhilal said the government had so far secured commitments from eight private-sector firms for the planting of close to half a million hectares with oil palm and jatropha (the fruits of which can be processed into biodiesel), as well as sugarcane and cassava (both of which can be processed into ethanol).

Among the largest biofuel planters will be PT AGB, which plans to cultivate 300,000 hectares in North Maluku province, PT Wilmar Bioenergy (150,000 hectares in Riau and East Kalimantan provinces), and PT Bakrie and Rekayasa Industri (25,500 hectares in Jambi).

The government itself will plant nearly 2,000 hectares, primarily as part of pilot and research projects, including 140 hectares under the Agriculture Ministry and 650 hectares by the Research and Technology Ministry's Technology Assessment and Application Agency (BPPT).

Alhilal had previously said that 6.5 million hectares of idle land would be allocated to investors interested in planting biofuel crops.

Of that total, some 3 million hectares would be earmarked for oil palm, 1.5 million hectares for jatropha, 500,000 hectares for sugarcane and 1.5 million hectares for cassava.

Following the surge in oil prices and the resulting strain on the budget, as well as burgeoning domestic fuel consumption, the government rolled out a national alternative energy program, which includes the promotion of biofuel.

It wants to see biofuel account for 10 percent of the country's total fuel consumption, which reached 70 million kiloliters last year, by 2010.



News Search/Filter
Transaction Rates
21 Jul 18
Buy
Sell
AED1
3,897.52
3,897.52
AFN1
199.64
199.64
ALL1
133.47
133.47
AMD1
29.81
29.81
ANG1
7,753.99
7,753.99
AOA1
55.94
55.94
ARS1
519.14
519.14
AUD1
10,612.33
10,612.33
AWG1
8,002.03
8,002.03
AZN1
8,408.62
8,408.62
BAM1
8,534.40
8,534.40
BBD1
7,157.84
7,157.84
BDT1
169.53
169.53
BGN1
8,579.86
8,579.86
BHD1
37,877.18
37,877.18
BIF1
8.01
8.01
BMD1
14,315.68
14,315.68
BND1
9,474.38
9,474.38
BOB1
2,073.25
2,073.25
BRL1
3,800.03
3,800.03
BSD1
14,315.68
14,315.68
BTC1
104,549,713
104,549,713
BTN1
207.90
207.90
BWP1
1,387.91
1,387.91
BYN1
7,170.55
7,170.55
BZD1
7,117.75
7,117.75
CAD1
10,885.64
10,885.64
CDF1
8.85
8.85
CHF1
14,420.01
14,420.01
CLF1
595,246.63
595,246.63
CLP1
21.66
21.66
CNH1
2,111.28
2,111.28
CNY1
2,114.38
2,114.38
COP1
5.00
5.00
CRC1
25.22
25.22
CUC1
14,315.68
14,315.68
CUP1
561.39
561.39
CVE1
151.56
151.56
CZK1
648.68
648.68
DJF1
80.41
80.41
DKK1
2,251.94
2,251.94
DOP1
288.21
288.21
DZD1
121.57
121.57
EGP1
800.42
800.42
ERN1
945.59
945.59
ETB1
517.55
517.55
EUR1
16,794.45
16,794.45
FJD1
6,787.88
6,787.88
FKP1
18,800.77
18,800.77
GBP1
18,800.77
18,800.77
GEL1
5,851.63
5,851.63
GGP1
18,800.77
18,800.77
GHS1
2,985.54
2,985.54
GIP1
18,800.77
18,800.77
GMD1
297.93
297.93
GNF1
1.57
1.57
GTQ1
1,909.41
1,909.41
GYD1
68.38
68.38
HKD1
1,823.68
1,823.68
HNL1
595.74
595.74
HRK1
2,267.24
2,267.24
HTG1
213.21
213.21
HUF1
51.55
51.55
IDR1
1.00
1.00
ILS1
3,945.46
3,945.46
IMP1
18,800.77
18,800.77
INR1
208.24
208.24
IQD1
12.01
12.01
IRR1
0.32
0.32
ISK1
134.69
134.69
JEP1
18,800.77
18,800.77
JMD1
109.54
109.54
JOD1
20,159.83
20,159.83
JPY1
128.48
128.48
KES1
142.16
142.16
KGS1
209.76
209.76
KHR1
3.52
3.52
KMF1
34.07
34.07
KPW1
15.90
15.90
KRW1
12.70
12.70
KWD1
47,277.68
47,277.68
KYD1
17,167.72
17,167.72
KZT1
41.33
41.33
LAK1
1.69
1.69
LBP1
9.47
9.47
LKR1
89.50
89.50
LRD1
93.41
93.41
LSL1
1,060.61
1,060.61
LYD1
10,373.68
10,373.68
MAD1
1,515.94
1,515.94
MDL1
857.71
857.71
MGA1
4.30
4.30
MKD1
272.16
272.16
MMK1
10.00
10.00
MNT1
5.86
5.86
MOP1
1,772.05
1,772.05
MRO1
40.21
40.21
MRU1
399.32
399.32
MUR1
416.27
416.27
MVR1
929.58
929.58
MWK1
19.70
19.70
MXN1
752.52
752.52
MYR1
3,523.87
3,523.87
MZN1
242.04
242.04
NAD1
1,068.73
1,068.73
NGN1
39.71
39.71
NIO1
451.74
451.74
NOK1
1,750.69
1,750.69
NPR1
129.94
129.94
NZD1
9,741.54
9,741.54
OMR1
37,191.12
37,191.12
PAB1
14,315.68
14,315.68
PEN1
4,374.37
4,374.37
PGK1
4,344.33
4,344.33
PHP1
268.74
268.74
PKR1
111.40
111.40
PLN1
3,885.13
3,885.13
PYG1
2.49
2.49
QAR1
3,931.69
3,931.69
RON1
3,605.76
3,605.76
RSD1
142.26
142.26
RUB1
225.54
225.54
RWF1
16.62
16.62
SAR1
3,816.80
3,816.80
SBD1
1,815.32
1,815.32
SCR1
1,057.28
1,057.28
SDG1
794.21
794.21
SEK1
1,617.18
1,617.18
SGD1
10,505.75
10,505.75
SHP1
18,800.77
18,800.77
SLL1
2.19
2.19
SOS1
24.68
24.68
SRD1
1,919.50
1,919.50
SSP1
109.89
109.89
STD1
0.68
0.68
STN1
675.26
675.26
SVC1
1,634.87
1,634.87
SYP1
27.79
27.79
SZL1
1,067.93
1,067.93
THB1
429.61
429.61
TJS1
1,521.56
1,521.56
TMT1
4,078.56
4,078.56
TND1
5,430.80
5,430.80
TOP1
6,154.79
6,154.79
TRY1
2,988.10
2,988.10
TTD1
2,125.58
2,125.58
TWD1
468.07
468.07
TZS1
6.28
6.28
UAH1
544.19
544.19
UGX1
3.82
3.82
USD1
14,315.68
14,315.68
UYU1
458.34
458.34
UZS1
1.83
1.83
VEF1
0.13
0.13
VND1
0.62
0.62
VUV1
131.22
131.22
WST1
5,521.10
5,521.10
XAF1
25.60
25.60
XAG1
222,091.17
222,091.17
XAU1
17,634,710.43
17,634,710.43
XCD1
5,297.10
5,297.10
XDR1
20,045.25
20,045.25
XOF1
25.60
25.60
XPD1
13,128,955.31
13,128,955.31
XPF1
140.73
140.73
XPT1
11,860,548.12
11,860,548.12
YER1
57.19
57.19
ZAR1
1,066.32
1,066.32
ZMW1
1,454.40
1,454.40
ZWL1
44.40
44.40
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services