South Korean Biomass to invest US$30m in biodiesel project

South Korean biodiesel supplier Biomass Korea Co Ltd. (BMK) will invest US$30 million to develop biodiesel as energy alternative in Jember, East Java , Media Indonesia reported Thursday.

 

To implement the expansion plan, BMK will team up with Indonesian Cooperatives Council (Dekopin).

 

BMK’s president director Jung Woo Lee said in Jakarta Wednesday that the funds would be earmarked for building 10 plants on an area of 150,000 hectares in Jember, East Java .

 

“The plants are expected to produce around 10,000 tons of jatropha oil per month,” he said following the signing of a memorandum of understanding (MoU) with Dekopin’s action program coordinator Bambang W. Soeharto Wednesday.

 

“Through the cooperation with Dekopin, we hope that we can start with the jatropha trees planting project on 150,000 hectares in the early 2008, with one hectare expected to produce 15 tons of jatropha oil per month (in the early stage), “ he said. (*)