Global Wood to invest $1.2b in Tunisia

19 Dec 2010

(MENAFN) Switzerland-based Global Wood Holding said that it will invest $1.2 billion to grow Eucalyptus trees in Tunisia and export the wood to Europe, creating 45,000 jobs, Reuters reported.

The project will be sited on 160,000 hectares in the Tunisian desert some 500 kilometers (310 miles) south of Tunis.

The company’s deputy chairman Aldo Bonaldi, speaking at news conference with Tunisian State Lands Minister Fouad Dagfous, said he expected to export two million tonnes of wood each year.

The project would be completed over 15 years, he said.

Eucalyptus has attracted attention from development researchers and environmentalists.

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