Indonesian tycoon to diversify into renewable energy

Hashim Djojohadikusumo is diversifying his business interests and setting up new ventures that include renewable energy.

Hashim's holdings included stakes in banks, agribusiness and energy. His brother, Prabowo Subianto, was a lieutenant general and the son-in-law of former President Suharto before going on to found the Great Indonesia Movement Party.

Today Hashim’s empire has an estimated turnover of $1.2 billion, with interests ranging from energy, petrochemicals, cement, shipping and agribusiness.

He is also an emerging player in the country’s promising renewable energy sector. He intends to plant Aren trees on his estates in various provinces, aiming to produce bio-ethanol.

The program has created considerable interest in the region. Local media in East Kalimantan reported on Hashim’s visit to the area, noting that he was accompanied by potential investors from Abu Dhabi, France and the Netherlands. The reports added that the businessman would also build an ethanol plant.

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Tags: renewable energy, tycoon, investments, bio-ethanol