PT Medco Energi is planning to invest USD 400 million in a geothermal project, the company's second this year, in northern Sumatra. An additional USD 100 million would be spent for the development of a food crop and biofuel project in Papua island, according to this article. The company's core business is oil and gas, so these are moves towards diversification.

The start of the new project is expected to happen this year. The food crop and biofuel projects will bring the development of 1 million hectares of land in the country's easternmost island. Plantation for food crops and biofuel feedstocks in Papua will be designed to meet the increased demand in the future.

[via: Think GeoEnergy]