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FORESTRY COMMISSION SIGNS A MEMORANDUM OF UNDERSTANDING WITH GREENLAND RESOURCES AB, OF SWEDEN
Posted: 18 Dec 2019

               

 

FORESTRY COMMISSION SIGNS A MEMORANDUM OF UNDERSTANDING WITH GREENLAND RESOURCES AB, OF SWEDEN.

Forestry Commission (FC) and Greenland Resources AB of Sweden, have signed a Memorandum of Understanding to formalise their intentions of establishing large-scale forest plantations in the Savannah Region of Ghana under a Public- Private Partnership (PPP).  Under this project, Greenland Resources AB will establish eucalyptus plantations for pulp and paper production.

The Memorandum of Understanding was signed on behalf of the government of Ghana by Mr. Kwadwo Owusu Afriyie, CE of FC, and Mr. Torbjۃrn Johannson, President of Greenland Resources AB of Sweden.

Delivering the welcome statement, Mr. Oppon Sasu, the Executive Director of Forest Services Division, was thrilled that the Commission was going to implement this epoch-making project. He stated that FC and Greenland Resources AB have been working tirelessly behind the scenes and the viability of the project was confirmed through pre-feasibility studies and recent field reconnaissance assessment.

Addressing all gathered, the Chief Executive, stated that three forest reserves in the Savannah Region; Yakombo Forest Reserve in the Buipe Forest District and KeniKeni and Yerada Forest Reserves in the Bole Forest District, with a total area of 215,000 ha have been earmarked for the plantation project while two other reserves in the same Region are being assessed for possible inclusion.

He indicated that Ghana’s imports of paper products is estimated at $268 million annually and hoped that when the project takes off, it will lead to significant foreign exchange savings and reduction in the price of paper locally. He emphasised that the project will create about 50,000 private sector jobs and also greatly enhance carbon stock, offering protection from wildfires which will lead to significant enhancement of carbon stocks, thereby helping in the global fight against climate change.

Mr. Torbjۃrn Johannson, President of Greenland Resources AB, in his statement indicated that the Agreement signed is a milestone to pave the way for the execution of the Project. He emphasised that the Project will be moved into a full scale large and competitive pulp mill, which can compete in the top segment of the best performing mills around the world.

 

 

 

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