Kubu Project Update March 2008

BALITEAKFARMS NEWS 24 March 2008



KUBU PROJECT UPDATE

BTF KUBU LOT #1


Planting Completed 21 March 2008
14,000 Teak Trees/ 7 Hectares

BTF is pleased to report completion of planting of 14,000 teak seedlings on the BTF KUBU LOT #1, as per the site visit BTF conducted on March 21, 2008.

Three days of significant rain has immediately followed planting completion, insuring the absolute best possible start up conditions.


BTF KUBU LOT #1 is a 7 hectares lot (70,000 square meters) leased by BTF under a 25 years Master Lease, with rights to renew for an additional 20 years. BTF KUBU LOT #1 was planted with a combination of Malaysian and Thai Tectona Grandis varieties.


Part of BTF KUBU LOT #1 is subleased to BTF clients, and part is retained by BTF for its own account.

Building of the irrigation system (water tower tanks, with related piping system) is in progress, with completion expected by start of the dry season around May. Building of the road to allow access to the water tank trucks is also under way, with completion expected by end of April, 2008.

BTF has optioned an additional 123 hectares on adjacent land in KUBU for immediate expansion projects, for part of which discussions are under way. BTF expects to conclude agreements with international investors (both private individuals and corporations) for planting an additional 40-50 hectares by the end of 2008, and finalize planting of the remainder of the optioned land in Kubu7 by end of 2009, thereby achieving by end of 2009 the target of 200,000 trees under management and/or for BTF’s own account.

 
 
© copyright Bali Teak Farms 2006 - 2013
powered by Bali Global Media