A signing ceremony launching work on the China-ASEAN International Timber Industry Zone project was recently held in Teng County, Wuzhou City, Guangxi Province.
This will involve an investment of about RMB20 billion.
Construction is expected to take five years and will be done in three phases. The construction of the zone will start this year and the main infrastructure will be completed and operational within two years.
The overall construction of the project is expected to be completed by December 2025. When fully operational it is anticipated that the Zone will have an annual turnover of around RMB50 billion and will provide 30,000 jobs.
Timber will be imported through Qinzhou Port.
There will be more than 25 primary processing enterprises with an annual capacity of 2 million cubic metres in addition there will be around 10 downstream processing enterprises in the Zone which will extend over area of more than 5 million hectares. The Zone is expected to become a major regional forest products processing Zone.