12 Apr 2011

More jobs beckon with new Solomons joint ventures

1:56 pm on 12 April 2011

A Solomon Islands timber exporter says a new joint venture with a Taiwanese company will allow it to employ another 150 people.

This week, the Solomons government, the Investment Corporation of Solomon Islands and Nien Wood Manufacturers of Taiwan signed a memorandum of understanding for the investment of 11 million US dollars.

The money will go into Kolombangara Forestry Plantation Limited and a new sawmill.

The Kolombangara chair, Tony Hughes, says the deal will help it reduce debt, increase the output of quality timber products and allow the re-planting of high-quality trees.