Yihua plans massive $1b invest in Gabon

Yihua Enterprise (Group) Co Ltd, the bellwether of the country's listed timber companies that ventured overseas for forest resources, said it is going to aggressively expand its business in Africa with a $1 billion investment in Gabon, on the west coast of the continent.

The Guangdong-based company signed an agreement on the joint development of Gabon's timber industry with its government last month. The planned projects include an international timber trade center, more deep processing factories and a timber museum.

Based in Shantou, Guangdong province, Yihua has developed from a wooden furniture workshop into a conglomerate that covers a wide range of businesses from real estate to healthcare.