ForestalWeb

18.11.09. ECO2 Forests Inc. has acquired 20,000 acres in the South Pacific country of Vanuatu for their first major reforestation project, the company said in a press release received by Lesprom Network.

ECO2 Forest recently finalised all arrangements and contracts for the commencement of the project on the island of Malakula, Vanuatu, with the first harvest revenue forecast at $112,520 per acre.

This acquisition paves the way for over 3.3 million Kiri Trees to be planted, commencing in the 1Q 2010, under the company's Global Forestry Plan. It is estimated that the project will produce 600 million board feet of renewable rough saw timber and sequestration of approximately 7 million metric tonnes of carbon dioxide (CO2) from the atmosphere during the first full planting cycle.

"It is important that all of our projects deliver environmental and economical benefits. Environmentally, the project sequesters approximately 7 million metric tonnes of CO2 from the atmosphere courtesy of the company's remarkable Kiri Tree; a fast growing, high CO2 absorbing tree ready for mature harvest in just seven years. Post harvest, the Kiri Tree regenerates from the stump, sequesters more CO2, stabilises and enriches the soil and negates the need for replanting," ECO2 Forests CEO Collie Christensen.

"On the economic front, the 7 million tonnes of CO2 sequestration equates to 7 million carbon credits and ECO2 Forests is currently working to secure an agreement to sell these carbon credits.

"Our Global Forestry Plan module planting matrix allows us to have one module of the forest ready for harvest each season. Our seven module model aligns with the seven years of the Kiri growth cycle and ensures we operate at maximum efficiency every season and provide a consistent supply of sustainable timber to the market," added Christensen.

Locally, ECO2 Forests estimate the project will create at least 300 full and part time jobs in the first year, a figure Christensen expects to grow with the project.

"Employment numbers will increase over the first seven years as we build up to the first harvest, at which point the forest will have all stages of the growth cycle in operation. The positive effect for employees, their families and the wider community will be felt for decades through the additional cash injection and increased quality of life provided by the project."

The fast growth and regenerative capabilities of the Kiri Tree and Global Forestry Plan, developed by ECO2 Forests consultants over the last 20 years, will allow the Vanuatu project to realize seven full harvest cycles within 50 years; the same time that it takes many other traditional forestry projects to reach their first harvest. Over this time, the 20,000 acre project may produce the timber yield equivalent of a 140,000 acre forest of traditional forested species, with continual timber supply after just seven years, the company said.

ECO2 Forest Inc. is an international sustainable forestry company focused on reforestation projects.

Fuente: Lesprom