Phaunos Timber to build wood pellet processing facility in Serbia
14/12/2007 - 12:16
Phaunos Timber Fund recently announced its plans to build a wood pellet processing facility in southern Serbia. The plant will use waste wood fibre to create high density wood pellets.
Phaunos will invest US$9 million to build the first of several wood pellet plants that will provide an entry to Eastern Europe for Phaunos. The wood pellet plants will be of relatively small scale and will be “turnkey” in design, but scaleable to higher production capacity.
In addition to wood pellet manufacturing, Phaunos anticipates that this project will help provide it with access to further timberland investment opportunities in Serbia and Eastern Europe.
Phaunos Timber Fund is an investment company registered and incorporated in Guernsey.
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