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Guyana to seize forestry concessions of China-based company

Associated Press Associated Press 7/09/2016

GEORGETOWN, Guyana — Guyana is repossessing a forestry concession granted to a China-based company for failing to meet commitments to the South American country.

The Guyana Forestry Commission found Baishanlin International Forest Development Inc. had failed to show that it would establish a wood-processing facility in the country as required and pay off overdue taxes.

A statement announcing the commission's decision to take back the concession was issued late Tuesday. The government also said it would "accelerate" efforts to recover the tax debt.

Baishanlin received a concession to harvest and export timber on about 1.5 million acres in 2006 along with incentives that included subsidies to build a wood-processing facility. The company never built the plant and fell short of creating promised jobs even as it expanded into mining and other activities.

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