Mexico City-based Proteak is to receive a US$13.2m loan from Mexico’s government rural development agency Financiera Nacional de Desarollo Agropecuario, Rural, Forestal y Pesquero (FND).
The funds will be dedicated to planting and maintaining up to 6,000ha of eucalyptus plantations in the region which will provide wood for the company’s 280,000m3/year MDF plant under construction at Huimanguillo, Tabasco state.
Proteak’s new forest base will also offer a raw material source for future development. "These resources will allow us to continue developing our expansion plans in the industrial wood sector," confirmed Omar Nacif, chief executive of Proteak’s panels business.
Proteak reported 95% of the plant production hall construction was completed by March and erection of equipment for the initial Dieffenbacher MDF line is underway. It plans to launch the plant around August this year.
