 |
 |
 |
|
|
| Aug. 29, 2005 |
| Forestry Project in Guangdong Province, China |
Oji
Paper Co., Ltd. and Marubeni
Corporation have reached
an agreement with the
Guangdong Petro-trade
Development Corp. of
Guangdong Province in
the People’s Republic
of China concerning a
forestry project to be
implemented at Huizhou
region, Guangdong Province.
A local subsidiary,Huizhou
Nanyou Forest Development
Co., Ltd., has been established
in Huizhou City.
During the first stage
of the forestry project,
plantation will be established
over an area of 33,000
hectares by 2008. Another
27,000 hectares will
be planted during the
second stage, bringing
the total area to 60,000
hectares. The plan calls
for the project to be
capable of reliably supplying
200,000 BDT of wood chips
annually after the completion
of the first stage. The
area selected for forest
planting is located in
southern China, which
has achieved remarkable
economic development.
The region is well-suited
for forestry development
in terms of the climatic
and soil conditions required
for the growth of plantation
trees.
Oji Paper has already
developed 10 overseas
forests with an aggregate
area of approximately
140,000 hectares in New
Zealand, Australia, Vietnam,
China, Laos and Brazil.
It plans to increase
the total area of its
overseas forests to 300,000
hectares by 2010.
This is Oji Paper’s
second forestry venture
in China. The first,
in the Guangxi Zhuang
Autonomous Region, was
initiated in 2001 as
a joint project with
Marubeni Corporation.
Marubeni also has forestry
development projects
in Australia and elsewhere.
This will be its second
project in China with
Oji Paper. The Guangdong
Petro-trade Development
Corp. has been supplying
wood chips to Oji Paper
through Marubeni for
many years and has a
long record of involvement
in plantation business
in the region.
This project will
be an important source
of raw materials to meet
China’s growing
demand for wood chips.
It will also allow the
participants to respond
effectively to increasingly
intense international
cost competition, and
to meet demand growth
stimulated by aggressive
industrial development
in Asia.
Afforestation is the
core of Oji Paper’s “forest
recycling” concept.
These projects also generate
employment and contribute
to the improvement of
living standards in local
communities. Through
these projects the Oji
Paper Group is working
to achieve the goals
defined in its Corporate
Code of Conduct, including “Harmony
with the Environment,” “Participation
in Social Contribution
Activities,” and “Coexistence
with the International
Community.”
Overview of Project Company
| 1.Company name |
: |
Huizhou Nanyou Forest Development Co., Ltd. |
| 2.Address |
: |
Huizhou City, Guangdong Province, People’s
Republic of China |
| 3.Establishment date |
: |
August 2005 |
| 4.Scope of business |
: |
Afforestation |
| 5.Paid-in capital |
: |
100 million yuan (¥1,360 million at an exchange
rate of 13.6 yen to the yuan) |
| 6.Investment ratios |
: |
Oji Paper: 30%, Marubeni Corporation: 5%, Guangdong
Petro-trade Development Corp. group: 65% |
|
|
 |
|
|
|
|
