Woodlots for 6 months
21 October, 2016, 12:00 am
FUTURE Forests (Fiji) Ltd (FFF) has secured a number of woodlots in close vicinity to the new sawmill complex, which will provide about five months of continuous log supply to the sawmill.
FFF shareholders and noteholders were notified of progress made towards rebuilding the nursery and sawmill operations post-Severe Tropical Cyclone Winston.
The FFF nursery facility was severely damaged during the cyclone and has been rebuilt, enabling FFF to supply commercial volumes of tree seedlings again.
In June, 2016, FFF signed a new tree seedling supply contract with the Pacific Community’s EU Reforest Fiji Project.
FFF has recommenced seedling production for the SPC EU Reforest Fiji Project and is expected to commence delivering seedlings from January 2016 onwards.
Recently the company said it obtained approval to relocate the sawmill operations to a freehold property owned by FFF next to the FFF nursery facility in Tova Valley, Nakorotubu, Ra province.
FFF is working with the Department of Forests and landowners to secure additional woodlots, including some woodlots that were impacted by the cyclone.
“Selling the commercial logs to FFF offers landowners a return on their woodlot investments, as opposed to letting the logs deteriorate,” the company said yesterday.
The board of directors is confident the seedling and timber revenue will enable the company to further stabilise and grow.