Biggest Asian Timber Processor Launched in Shandong
Penglai Global Timber Company Ltd., the biggest timber-processing enterprise in Asia broke ground in the Export-oriented Industrial Processing Zone of Penglai, Shandong Province on April 3.
The project, with a gross investment of US$ 50 million and a construction area of 1,000 mu (15 mu=1 hec.) of land, is funded exclusively by Mr. Huang Shuang'an, the timber king of Southeast Asia. So far, 50 percent of investment has been made available for the project. With new world advanced equipment introduced from abroad, 20 veneer and 4 medium-thick board lines along with a thermal power station will be built. It is planned an annual amount of 1.5 million cubic meters of timber imports will be processed and sold. The first-phase construction project will be completed and put into production by October 2000. With an annual business income exceeding over 1 billion yuan, it is expected to promote about 5,000 medium- and small-sized timber-processing enterprises and local pillar industry going in for timber processing to be developed. After putting into operation of the processor, China will be greatly relieved from a tight supply of timber resources. Timber products by the company will be exported mainly to Japan, Korea and European countries, among which medium-thick boards and veneer boards will make good substitutes of imports for China.����
Penglai Global Timber Company Ltd., the biggest timber-processing enterprise in Asia broke ground in the Export-oriented Industrial Processing Zone of Penglai, Shandong Province on April 3. Timber products by the company will be exported mainly to Japan, Korea and European countries, among which medium-thick boards and veneer boards will make good substitutes of imports for China.
