This contract is valid 2 years from its signature. If concluded, the subsequent investment contract would have a duration of 50 years for land use irrevocably granted by the Government. In addition, the Government would guarantee the exclusive rights land use for sugarcane plantation for the first 10 years.
No state participation. The Government would however provide all necessary incentives, export excess of the company product, [and grant] licenses, permits for sugar plantation, sugar plant, ethanol plant and its derivative products.
The project is expected to generate more than 2,000 regular employees and more than 8,000 labor direct jobs. GTLESTE BIOTECH will be staffed by qualified personnel from Timor Leste and or experienced Indonesian assisted also by other foreign technician it necessary.
GTLESTE BIOTECH will support Timor Leste total consumption of sugar and ethanol with reasonable prices. It will participate the district electricity supplies from the excess of electricity power from the company’s plants.
GTLESTE BIOTECH estimates the total investment for the project would amount to over US$ 100,000,000, including the sugar cane plantation, sugar plant, ethanol plant, and power generation facility and residential facilities. The entire costs of the project will be borne by GTLESTE BIOTECH, which takes full responsibility for any loan guarantees required to finance its business venture.
All information and documents supplied to either party pursuant to the contract shall be treated as confidential by the parties and not be disclosed to any third party without the express written consent of the party who supplied the information or document. These restrictions expire 2 years after the termination of the contract.
The proposed project is subject to and conditional upon GTLESTE BIOTECH meeting all requirements set out by the laws of the Democratic Republic of Timor- Leste