Muembe, Mozambique, 1 Sept – The New Forests Malond company, which is 80 percent British and 20 percent Mozambican owned, plans to build a dam for irrigation in the district of Muembe, Niassa province in northern Mozambique.
Neville Slade, the managing director of New Forests Malonda, a company that works in the forestry sector in that area of Mozambique, told Macauhub that the project required an investment of US$30,000.
New Forests Malonda has an area of 10,000 hectares to plant eucalyptus and pine, of which 2,000 hectares have been in use since 2007.
As of 2010 the company, which has already invested US$4 million in the project, will start planting 2,000 hectares per year.
The company, which has been operating in Mozambique since 2007, has had stakes in forestry projects in Tanzania, since 2008, Uganda, since 2004 and Rwanda since 2008.
Production of paper or wood will only begin within 10 to 25 years, said the managing director of New Forests Malonda.
Several European companies have also shown interest in the forestry sector in Niassa province. (macauhub)