Bangladesh Forest Industries Development Corporation (BFIDC) will set up a rubber wood pressure treating plant at Sreemangal in Moulvibazar.
The project estimated to cost Tk 18.38 crore would help treat around 13.20 crore rubber wood annually, said a press release.
A total of 132,817 rubber trees in four gardens in Sreemangal have passed their economic lifecycle. If the trees are sold as firewood they would get Tk 4 crore, but their value would jump to Tk 74 crore if treated, it added.
To implement the project, BFIDC Secretary Gias Uddin and Managing Director of GEN AIR BD Limited M Zobaidul Islam Chowdhury signed a contract at BFIDC office in the capital's Motijheel.
Environment and Forests Secretary Dr Kamal Uddin Ahmed, among others, was present at the signing ceremony.