Deposits asked for plantations<\/p>\n
JAKARTA (JP): Companies wanting to develop plantations in
\nCentral Kalimantan must deposit Rp 1 billion (US$424,000) at the
\nprovince's development bank, the local authorities said
\nyesterday.<\/p>\n
Head of the provincial agriculture office Hendry Nahan said in
\nPalangka Raya, the province's capital, that the Rp 1 billion
\ndeposit was necessary to ensure that investors had enough funds
\nto develop the plantations.<\/p>\n
"The Rp 1 billion deposit requirement is not obligatory
\nbut it is important as a preventive measure," he was quoted by
\nAntara as saying.<\/p>\n
Hendry said 163 companies had submitted proposals to establish
\nplantations, covering 2.2 million hectares, in the province. They
\nmust all deposit Rp 1 billion at Bank Pembangunan Daerah.<\/p>\n
The provincial administration has radically altered the way it
\nlicenses plantation projects to speed up approvals.<\/p>\n
"Many investors had to wait a year to get a license," he said.<\/p>\n
The local government has modified its master plan, allowing
\nthe conversion of 1.7 million hectares, originally designated as
\nprotected forest, into agricultural plantations, he said.<\/p>\n
The new master plan allows 13.6 million hectares of farm land,
\nup from 11.9 million hectares.<\/p>\n
The central government's one-million hectare rice field
\nproject, now under development, will cover most of the new farm
\nareas, he said. (jsk)<\/p>",
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"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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