Aug. 27 (Bloomberg) -- Three logging companies will spend 7.5 billion CFA francs ($14 million) developing forests in southern and northeastern Republic of Congo, the Forestry Ministry said.
Trabec, based in Pointe Noire, Congo, will spend 1.91 billion francs to produce 8,920 cubic meters (315,007 cubic feet) of wood at Mouliene in Congo’s southern Bouenza region, while Kimbakala will spend 2.34 billion francs producing 2,775 cubic meters at Loamba in Bouenza, the ministry said in a statement today in Brazzaville, the capital.
A third company, Societe Exploitation et Transformation de Bois de Moungouma, will invest 3.3 billion francs to produce 6,216 cubic meters of wood at Likouala in northeastern Congo, the ministry said.
Congolese forestry laws require companies to process 85 percent of their timber, while restricting exports of logs to 15 percent of total production. Lumber is the second-biggest source of foreign exchange, after oil. Forests cover two-thirds of the Central African nation’s territory.
To contact the reporter on this story: Robert Mbakou in Brazzaville at email@example.com
To contact the editor responsible for this story: Paul Richardson at firstname.lastname@example.org