MEXICO – Proteak announced on March 18th that it has received approval for a MXP 200.4MM credit line from Mexico’s Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero (FND).

These funds will be used for the planting and maintenance of up to 6,000 hectares of Eucalyptus plantations in the southeast region of the country, to be used to supply Proteak’s MDF plant currently under construction in Huimanguillo, Tabasco.

“These resources will allow us to continue developing our expansion plans in the industrial wood sector”, stated Omar Nacif, Managing Director in charge of Wood Panels.

FND CEO, Juan Carlos Cortés García, highlighted the importance of the loan granted to Proteak and noted the Institution’s commitment to continue supporting projects that strengthen the growth of productive activities in the rural sector.

“Actions like these confirm the commitment of President Enrique Peña Nieto’s Government to continue supporting the development of agricultural and forestry activities through the timely delivery of loans under more accessible conditions”, he commented.