October 1, 2007 (biz.thestar.com.my) PETALING JAYA: Datuk Vinod Sekhar, chairman of Petra Trust and Foundation and chief executive of Malaysia-based The Petra Group, announced plans at the Clinton Global Initiative in New York on Friday to create a Jetropha Curcus plantation and build a Jethropha biodiesel refinery in West Indies.
The cost of the initial five-year programme was about US$130mil, Petra said in a statement.
It added that the idea was to create sustainable employment, wealth and eradicate poverty in the region via the establishment of Jetropha nurseries, plantations and biodiesel refinery.
There to announce Petra’s commitment to the Jetropha plantation was former US president Bill Clinton.
According to Clinton, Jethropha was by far, the best solution, given the current economic, technological and socio-economic situation in the biodiesel arena.
Vinod said: “Our plan is to build a leading biodiesel plantation and plant in West Indies. We will prove that commercially driven projects can be developed in such a way as to ensure significant socio-economic progress without damaging economic value.
“We believe that private enterprises can work closely with governments to establish innovative and long lasting solutions to the problems of poverty eradication, wealth creation and energy supply.”