KUALA LUMPUR, Malaysia, Jan 11 (Bernama) — 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.
The announcement of the launch of the second phase was made after a signing ceremony between both the Founder of Gain Green, Mr EL Law and the CEO of Finterra Global Plantations at the latter’s office in Bukit Damansara, Kuala Lumpur. According to CEO, of Finterra Global Plantation, 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 both locally and internationally. Through this agreement, 150,000 Paulownia trees are being planted over the next 6 months in Kedah on a 500 acres land with plans to expand this venture at the 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.