GEORGETOWN, Guyana (AP) " 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.
This story has been automatically published from the Associated Press wire which uses US spellings