Pine Group today brought smiles to its Pine Landowners in Bua when it delivered the first batch of building materials valued at $120,000 to Bua.
The Honorable Prime Minister officially handed over the materials to the landowners.
Pine Group Chair, Ratu Wiliame Katonivere, said that this is a historic occasion where we see our landowners realizing benefits from the Pine Industry. “During the cyclone Yasa damage assessment visitation by the Hon. Prime Minister, he asked me to explore on how the Pine Landowners can be assisted specifically to rebuild their houses. We took that on Board and facilitated this through the annual dividend and levies that our Pine landowners receive.
For 2020, we had a balance of $1.5m for our Bua and Macuata landowners. The allocation for respective mataqali’s was based on the dividend distribution methodology. We immediately set aside this fund and deployed a team to Vanua Levu to carry out extensive damage assessments to our landowner houses. This assessment was jointly carried out with the Ministry of Forests.
Today the following mataqali’s received the first batch of housing materials:
The Honorable Prime Minister applauded Pine Groups Vision and mentioned that the industry has been re-strategized and reinvented. COVID-19 had substantial impact on the Pine Industry and its markets however despite this we have seen remarkable results of the Group. The Hon. Prime Minister thanked the Board Chair, the Board, CEO and the management team of the Pine Group for such an achievement.
Pine Industry has now become one of the key economic drivers. In particular this year where new export markets for woodchips have been secured.
The assessments for all mataqali’s have been completed and the housing materials for those will be delivered soon.
Board Chair also acknowledged the Hon. Minister for Forests and his team for working with the Pine Group in driving results and in particular the returns to our Pine landowners.