Letter of Intent (LOI) Signing Ceremony of Medco Biofuel Ethanol Project.

The 29th August 2006 marked the issuance of a Letter of Intent (“LOI”) by PT Medco Ethanol Lampung (MEL) for the establishment of a Biofuel Ethanol Plant at Lampung, having an annual capacity of 60,000 kilo liter. The project budget is valued of about US 35 million. The engineering works and site preparation are expected to commence soon.