Ministry issues 12 timber estate licenses worth Rp23.95 trillion

Jakarta (ANTARA News) - The Ministry of Forestry in the first semester of 2011 has provided 12 licenses for management of timber estates (HTI) worth Rp23.95 trillion, a senior ministry official said.

Forestry Ministry Secretary General Hadi Daryanto said here on Thursday that the Rp23.95 trillion funds were to be used to develop HTI areas covering 373,308 hectares.

He said that the development of HTI in the forestry sector indicated that investment in the forestry sector continued to increase, despite the Oslo forest moratorium that had come into effect this year.

"Moratorium does not affect investment. We will work to achieve the 7 percent economic growth while reducing carbon emission by 26 percent. So there is no need to be worried that moratorium would hamper investment in the forestry sector," Hadi Daryanto said.

The value of HTI investment in the first semester this year increased if compared with that in 2010 where there were only 10 firms with a total HIT investment value of Rp2.63 trillion.