Petra to launch biodiesel project in West Indies

Malaysia’s Petra Group plans to establish a jatropha plantation and build a biodiesel plant in the West Indies. It described the initiative as part of a wide-ranging project started by its Petra Trust to create sustainable employment, wealth and eradicate poverty in the region. Former U.S. President Bill Clinton announced the commitment with Petra Group’s Chief Executive Datuk Vinod Sekhar, who is also Petra Trust and Foundation chairman, at the third annual meeting of the Clinton Global Initiative in New York. Petra said the cost of the initial five-year program is estimated at US$130 million. (September 29, 2007)