OREANDA-NEWS. August 02, 2013. Zhe Yu Wood industry Co., Ltd has invested RMB5 billion yuan (USD 815 million) to establish a large wood processing zone in Puyang City of Henan Province, China, ITTO reported.

Wood processing, materials R&D and business services will be concentrated at the new site which will focus on plywood and added value product manufacturing.

The investment will be in three phases, RMB1.2 billion yuan (SD196 million) will be invested in the first phase and the value of the annual output is forecast at RMB3 billion yuan (SD489 million).

On completion of the investment this will be one of the largest wood processing operations and will extend over an area of 320 hectares.