GMK Global Signs Lease and Management Contract for 100 Million Pyeong Bamboo Forest in Hubei, China

GMK Global announced on the 5th that it has signed a contract to lease and manage a 100 million pyeong bamboo forest in Hubei Province, Zhonggu District, for 30 years. GMK Global is also constructing a factory (approximately 40,000 pyeong) that processes pellets using thinned bamboo while managing the bamboo forest.

The company also plans to lease a 60 million pyeong bamboo forest in Sichuan Province, China, for 20 years using the same method and build a 40,000 pyeong factory.

Accordingly, the overseas bamboo forests secured by GMK Global total about 160 million pyeong, with a daily biomass fuel production of approximately 1,300 tons. Of this, 90% will be supplied as fuel to domestic power plants, and about 10% will be used for private purposes.