China looking to invest in Vancouver Island timber assets
November 6th, 2012 | Posted in Financial News, Woodlands | 1 comment »
The Wall Street Journal is reporting that China Investment Corp. (CIC) is close to buying a 12.5% stake in Island Timberlands for about $100 million.
Island Timberlands is jointly owned by a subsidiary, Brookfield Infrastructure Partners, and other institutional investors. Island Timberlands owns about 254,000 hectares of forest land on Vancouver Island.
China Investment Corp. is the Chinese government’s wealth fund that manages China’s massive foreign exchange reserves.
Read more:
WSJ: CIC Close to Signing Timber Deal with Brookfield — Sources (Wall Street Journal)
China eyeing timberland on Vancouver Island (CBC)
Canada Tells China It’s Open for Business (Investing Daily)
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- Coast Tsimshian Resources signs contract to sell logs to Chinese company
- FPAC urging Canada to deepen economic ties with China
- Canadian Institute of Forestry delegation in China
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Hmmmm, more unfinished product going off shore,sent over to China for cheap labour costs then sent back over to North America for us to buy when we are all out of good paying jobs to afford to buy the product? Stay tuned folks