Indian companies invest in veneer plants in Gabon

Source:
ITTO/Fordaq
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After Myanmar, Laos, Vietnam and Indonesia, Gabon has emerged as a new location for veneer production by Indian companies.

Greenply Industries has announced it plans to establish a veneer manufacturing plant in Gabon and this has prompted other companies to consider investing in Gabon. The news from Gabon is that three or four Indian plywood companies are considering setting up plants for the production of face veneer.

Several producers from Yamuna Nagar also visited Gabon and have expressed an interest to invest in the country. Two companies in Gandhidham and one in Vishakhapatnam are also considering establishing units in Gabon’s Special Economic Zone (GSEZ).

The GSEZ’s industrial site is seen as offering many opportunities. The harvestable forest in Gabon is substantial such that raw material supplies are reliable.

Some 20 investors from India have already settled in the GSEZ with sawmills, kiln drying facilities as well as furniture, veneer and plywood manufacturing units. The Indian plywood industry consumes approximately 1,400 containers of veneers every month and currently these come from Myanmar, Laos and China.

However with the decision in Myanmar to halt logging importers have begun to look elsewhere.

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