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Jakarta Post

Quantum to invest US$250 million on biofuel developments in Sumba

  • The Jakarta Post

Jakarta   /   Thu, February 14 2008   /  11:56 am

The Quantum Group of Australia will invest up to US$250 million to develop 100,000 hectares of land in East Nusa Tenggara to grow cassava, as well as set up four ethanol processing plants, employing as much as 60,000 local farmers. The memorandum of understanding between Quantum Petroleum, a subsidiary of Quantum Group, and Southwest Sumba administration was signed Wednesday. Quantum chief executive officer Ralph Michael told The Jakarta Post the firm would start building the first plant in the fourth quarter of this year, while construction would commence on the other three by the middle of next year. The firm will invest around $200 million for building the four plants and $50 million for the plantations. Michael said the 100,000 hectares could produce at least 20 million tons of cassava, or five million tons of sweet potato. From that yield, a proc...