New Forests, on behalf of its Tropical Asia Forest Fund (TAFF), has completed the acquisition of a majority shareholding in one of the largest hardwood plantation estates in Laos, as the company said in the press release received by Lesprom Network.
TAFF’s latest acquisition is an 85% interest in a mature plantation estate that will be known as Mekong Timber Plantations. New Forests intends to develop the plantation as a high-quality timber asset serving regional markets for certified plantation hardwood. The purchase further supports TAFF’s investment thesis of acquiring significant interests in plantation timber companies and investing to transition these assets toward higher value end markets and to service the growing demand for certified, sustainable timber in Asian markets. The fund’s investments include eucalyptus and acacia plantations as well as a rubber plantation that will produce both latex and timber products.
Mekong Timber Plantations will manage 22,000 hectares of leased area mainly in Bolikhamxay and Khammouane provinces of Laos.
New Forests launched the Tropical Asia Forest Fund (TAFF) to bring its timberland investment expertise to emerging markets in Asia. New Forests is a sustainable real assets investment manager offering leading-edge strategies in forestry, timber processing, infrastructure, land management, and conservation.
