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Stora Enso has decided to sell its 100% holding in Stora Enso Laos Plantation AB to forest development company SilviCarbon. The transaction is expected to be closed by the end of September 2021.
Stora Enso has operated plantations in the Savannakhet and Saravane provinces in Laos since 2007, with 3 800 hectares of land use rights. The company’s initial aim was to develop a competitive raw material base for possible future industrial projects and to explore best practices in sustainable plantation operations. Based on a thorough analysis and changes in Stora Enso’s business strategy, further expansion of the plantation operations in South East Asia is no longer a priority. Therefore, Stora Enso has decided to sell its plantations in Laos.
Over the years, Stora Enso has had a special emphasis on engaging local communities in development of the plantations. Hence it was important for Stora Enso to sell the operations to a new owner that is committed to investing in and developing the operations further.
SilviCarbon (www.silvicarbon.com) is a forest development and management company focused on the social, environmental and economic benefits of reforestation and agroforestry – and the potential of these for carbon sequestration and to support of a modern biorefinery industry. The company is co-owned (51%) by Varo Energy, a Dutch fuel and renewable energy company with a leading position in biofuel in Europe.
For further information, please contact:
Carl Norell (media requests)
Head of Media relations
+46 72 2410349
SVP, Global Forests & Sustainability, Forest division, Stora Enso
+46 70 325 24 40
Chief Operating Officer, Stora Enso Lao Co. Ltd
+856 (0)20 55515205