Open Bay Timber Ltd signs
40-year restoration project deal
By ZARA KANU
EAST New Britain-based Open Bay Timber Ltd recently signed a new 40-year restoration project agreement with the PNG Forest Authority.
The company has committed to increase the area from 12,000 hectares to a reforested 20,000 hectares with planting scheduled to be completed by the end of 2020 at a cost of K32 million.
Established in 1971, Open Bay Timber is presently the only Japanese timber company operating in PNG.
Company chairman Hiroshi Nakamura said the company started a large scale reforestation project in 1985 and would be one of the largest reforestation companies planting non-conifer trees in the South Pacific region when the new targets were reached.
Mr Nakamura emphasised the importance of reforestation worldwide considering the rapid decrease in natural forest resources and the problem of world climate change.
“Reforestation contributes not only to the regeneration of forest resources but to the prevention of global warming by absorbing carbon dioxide (CO2), it is both low impact and beneficial to the environment.
“Open Bay Timber now employs more than 700 local people on the project rising to more than 1,000 in the near future when operations are in full swing,” Mr Nakamura said, adding that the company is now focusing on ensuring a more sustainable operation in PNG.
Meanwhile, Open Bay Timber has been awarded an environmental certificate for “controlled wood forest management” by the world famous Smartwood Programme of the Rainforest Alliance, which is a first for any PNG-based logging company.
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