KUALA LUMPUR, Jan 14 -- Finterra Global Plantations has announced its signing of the second phase of planting 500 acres of the highly in demand Paulownia tree.
This comes after it successfully completed planting the first phase in a joint venture with United Paulownia Plantation Sdn Bhd (UPP), a subsidiary company of Green Afforestation International Network (Gain Green) earlier in the year.
According to Finterra Global Plantations Chief Executive Officer, Satesh Khemlani, the focus of the joint venture has been one driven by sustainable afforestation and working closely together to meet the demands of the Timber industry, locally and internationally.
Via this agreement, 150,000 Paulownia trees are being planted over the next six months in Kedah on a 500-acre land with plans to expand this venture at a rate of two and a half thousand acres over the next four years, totalling its planting acreage to 10,000 acres in Malaysia with a total investment of RM90 million.
The Paulownia wood itself is one which is in great demand due to its properties and uses. It is a light, yet hardwood with numerous applications including being used to produce plywood, furniture, doors, wooden panels and veneers.
Another great characteristic of this tree is that it is able to absorb 10 times more carbon dioxide and produce 10 times over oxygen as compared to other trees, according to a statement.
In this way Finterra Global Plantations together with UPP will also contribute to reducing carbon footprint and do their part in helping the government’s initiative of planting one million tree in the next 10 years.
More details at www.finterraventures.com.
-- BERNAMA
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