Since the introduction of lease security bonuses, Fiji Pine Limited has paid out $36.5 million in dividend payments to landowners over the past nine years.

In addition to this, 15 million new trees have been planted in less than four years.

Last week, Prime Minister Voreqe Bainimarama visited the Tropik Wood Drasa mill complex in Lauto­ka where out of 300 pine landown­ing units, the top 20 received their lease security bonus payment.

Of the remaining lanowning units, some had their payments deposited directly into their bank accounts.

The rest who had opted for special projects which they were venturing into had the payment made directly there.

“Even after the worst cyclone that Fiji has ever endured, Fiji Pine de­livered you these dividends.

And even in a year defined by a global pandemic, when the world economy was at its knees, this In­dustry stood tall and you, our land­owners, have shared the benefits –– millions of more dollars are going into your pockets to support your families and develop your commu­nities in recognition of your part­nership with Fiji Pine,” he said.

“Most of you have been part of this industry for years.

“You can recall the stark differ­ence between this success and this industry’s struggles in the not-so-distant past.”

Mr Bainimarama reveals Drasa will soon have a brand-new sawmill to process larger diameter logs that cannot be processed at the existing mill.

He said two brand new kilns for timber-drying are on the way.

Mr Bainimarama adds that Fiji Pine will continue to diversify its global customer-base in the year ahead.

“We’re looking at potential mar­kets closer to home, particularly in Australia, New Zealand, and in the Pacific, where we can market world-class timber with local roots, literally,” he said.

“Tropik Wood will lead that mar­keting effort, and I’m excited to an­nounce today that they’ve found a perfect Pacific partner –– our Fijian and Fijiana Drua.”

For the first time in history, Mr Bainimarama said the Fiji Pine Group is debt-free after making a lump sum payment of $2.2M to the Fijian Government.

This was to repay a loan taken out in the 1990s.

He said profits in the 2021 finan­cial year were the highest ever ––coming in at $41.88M

“Over $867,000 was paid in stump­age to landowners in Nasarawaqa,” he said.

“We planted 4,236 hectares of pine –– a new single-year record. We have planted a total of 21,230 hec­tares of pine since 2011.

“And this year, we are committed to planting another 7,200 hectares of pine.

“A new nursery with a seedling capacity of one million was set-up opposite this factory.”

Feedback: laiseana.nasiga@fijisun.com.fj

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