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Scibois deal no panacea for JES's troubles

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Published Mon, Apr 21, 2014 · 10:00 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    IS IT for real this time?

    Many in the market are now wondering just that, after Chinese shipbuilder JES International made a U-turn on an earlier mining investment, and decided that it might have better luck with a forestry business.

    The loss-making firm on April 8 announced that it was acquiring a controlling stake in Scibois Co Limited, which indirectly owns a licence to harvest 229,400 hectares of forest area in the Democratic Republic of Congo.

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