Oct 31, 2008. /Lesprom.com/. Cathay Forest Products Corp. announced that its Russian Joint Venture, DalEuroles L.L.C. has recently commenced harvesting operations on its forest concessions in Khabarovsk, Russia and, on an annualized basis, is harvesting at a rate that would allow DalEuroles to meet its Annual Allowable Cut quota of 300 thousand cubic metres per year. Since harvesting operations began at the end of September, DalEuroles has harvested approximately 15 thousand cubic metres and is shipping the harvested roundwood timber to the Chinese and Japanese markets. Construction of the lower landing shipping area continues and is on schedule to be completed in November 2008. While the lower landing is being completed, logs are transported from the cutting sites to a third party site for shipment. DalEuroLes is targeting to harvest up to 50 thousand cubic meters of wood by end of 2008. In 2009, DalEuroLes plans to harvest the full Annual Allowable Cut of 300 thousand cubic metres on the 271,000-hectare concession. "In a short period of time since the development of our Russian forestry strategy, it is very encouraging to observe that our vision is being realized at the high end of our anticipated harvest volume expectations," said Anthony Ng, Cathay Forest's President and CEO. "This marks the beginning of an exciting time for Cathay Forest as we increase our efforts to meet the acute shortage of wood fiber in China and Japan." Cathay Forest is a forest products company that manages approximately 1million hectares of standing timber properties and fast-growth, high-yield poplar plantations in China and Russia. Cathay Forest is building a world-class forest products company through a customer base that includes the domestic Chinese pulp and paper industry and other wood products customers in the Japanese market.