News

Arrow Resources Development Inc. to commence Indonesia project

Darajat geothermal power plant by Chevron, Indonesia (source: wienblog-growingtree/ blogspot)
Alexander Richter 13 May 2011

Arrow Resources Development Inc. announces it has received approval from the Asian Development Bank to commence its geothermal power plant project in Indonesia.

In an announcement, “Arrow Resources Development, Inc. (OTCBB: ARWD) reports on its plantation operations, but also on its geothermal activities.

It says it “has received approval from the Asian Development Bank to commence its Geothermal Power Plant deployment in Indonesia. Funding for the site development plan and site selection has already been initiated and the Company anticipates completing these activities within the next few months. The Company has been busy moving ahead on all fronts and anticipates positive financial developments in 2011.

Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with administrative activities, both in the Unites States and Indonesia and manages the corporate citizen program for this natural resource development company in the Asian market. Its relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation, farming and geothermal operations in Indonesia. The Joint Venture partners include Arrow Pacific, Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), one of Indonesia’s larger non-profit organizations and PT Tiga Daun (Indonesian company owned by Arrow Pacific’s Indonesian operating Company). Arrow Resources’ agreements entitle the Company to 10% of all gross revenue generated by all their partners’ plantation/farming including any and all sales of natural resources and derivative products.”

Source: Company release via PR Newswire