KUALA LUMPUR, Malaysia, Aug 24 (Bernama) — Finterra Global Plantations has announced its joint venture with United Paulownia Plantation Sdn Bhd (“UPP”), a subsidiary company of Green Afforestation International Network (Gain Green). The focus of the joint venture is on the sustainable afforestation sector and will see more than a 150,000 Paulownia trees being planted over the next 6 months in Kedah on a 500 acres land.
The announcement was made by Finterra Global Plantation’s CEO, Satesh Khemlani, according to whom, “ Gain Green after years of R&D, has come up with a Paulownia selected variety which has the ability to grow in tropical climates and be ready for harvest in a short period of just 40 months”. In doing so, “with the joint venture project with UPP, we will be able to meet the demands of the timber industry since the wood has been developed not only to grow fast, but to have characteristics and features that are highly desirable to the timber industry both locally and internationally”. In the first phase, Finterra Global Plantations together with UPP, will be planting the Paulownia tree on 500 acres and this will be scaled up to 5000 acres by 2022.
