Russian Woodlands are a New Freen Frontier
Anticipating eventual privatization, RusForest has snapped up 49-year leases on 2.4 million hectares of woodlands — roughly the size of New Hampshire, or slightly smaller than Belgium — for a mere $75 million over the past five years. In Sweden, where it is difficult to buy more than 1,000 hectares of forest, such an enormous expanse would cost $25 billion if it could be obtained. “Russian forestry reminds me of 15 or 16 years ago, when you could buy Russian oil in the ground for 10 to 15 cents a barrel, compared with valuations elsewhere in the world of $5 a barrel,” says Ranjan Tandon, head of New York–based Libra Advisors, a $2.5 billion hedge fund that owns 8.3 percent of RusForest.
Anticipating eventual privatization, RusForest has snapped up 49-year leases on 2.4 million hectares of woodlands — roughly the size of New Hampshire, or slightly smaller than Belgium — for a mere $75 million over the past five years. In Sweden, where it is difficult to buy more than 1,000 hectares of forest, such an enormous expanse would cost $25 billion if it could be obtained. “Russian forestry reminds me of 15 or 16 years ago, when you could buy Russian oil in the ground for 10 to 15 cents a barrel, compared with valuations elsewhere in the world of $5 a barrel,” says Ranjan Tandon, head of New York–based Libra Advisors, a $2.5 billion hedge fund that owns 8.3 percent of RusForest.
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