Sir James, investors hold lumber talks with Guyana President
July 19, 2011

Sir James, investors hold lumber talks with Guyana President

A team of investors from the FTI Timber Growth Fund, led by former Prime Minister Sir James Mitchell, is looking to set up operations in Guyana soon.{{more}}

According to the Business Guyana publication, the team met with Guyana’s Head of State President Bharrat Jagdeo, on Thursday, July 14.

The FTI group has already submitted a license to commence operations in Guyana.

The terms and conditions of the license are in keeping with internationally acceptable sustainable forestry practices, the publication said.

According to Business Guyana, FTI currently operates on a concession of several hundred thousand acres in the Brazilian State of Roraima. The company maintains reputable standards of internationally certified sustainable forestry practices and has been a licensed operator in St. Vincent and the Grenadines for over 10 years.

During the meeting with President Jagdeo, Sir James pointed out that he is fully cognizant of Guyana’s forest protection policy and the national scale forest payments scheme which it sealed with Norway.

Processing of the License to operate in Guyana’s territory is currently underway.

Sir James has also recently returned from London, where he held talks with the directors of Armajaro who indicated that the feasibility of cocoa production in St. Vincent is positive.