Sinopec will invest $5 billion in Indonesian biofuel projects

2008-01-30View Original

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Sinopec to invest $5 billion in Indonesian biofuel projects. According to Indonesia’s official news agency Antara on Tuesday (January 22), China Petroleum & Chemical Corp. (SNP) will invest $5 billion in the provinces of Papua and Kalimantan in Indonesia to produce biofuels from palm oil and jatropha oil. The report cited Al Hilal Hamdi, head of Indonesia’s **National Team for Biofuel**, as saying that Sinopec will cooperate with the Indonesian company PT Puri Usaha Kencana to establish biofuel plants for growing oil palm and jatropha. Antara reports that the project is expected to start construction this year.

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Sinopec will invest $5 billion in Indonesian biofuel projects

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