- Kangaroo Island Plantation Timbers (KPT) has announced that information regarding its Seaport facility will be publicly presented in January and February
- The information regards traffic and road networks, biosecurity, and engineering design, and is required as part of secondary approvals for the project
- On December 23, KPT revealed it had lodged this information with the Minister for Planning after it was invited to provide details in early November
- Once completed, the Seaport facility in South Australia will be suitable for timber, passenger, and general cargo shipments
- First rotation will yield an average of 600,000 tonnes of timber per year over a 14 year period
- KPT is up 2.4 per cent on the market and shares are trading at $1.28
Kangaroo Island Plantation Timbers (KPT) has announced that information regarding its Seaport facility will be publicly presented in January and February.
The information regards traffic and road networks, biosecurity, and engineering design, and it is required as part of secondary approvals for the project.
On December 23, KPT revealed it had lodged this information with the Minister for Planning after it was invited to provide details in early November.
This information was supplied earlier than expected on the belief it would provide both the Minister and community of South Australia with greater assurance about the benefits the facility will bring.
“KPT welcomed the opportunity to deal with road and traffic matters and provide information that previously was to be part of the secondary approvals process for the proposed KI Seaport,” Managing Director Keith Lamb said at the time.
“It is our belief that the change in timing of the provision of this information will provide the Minister and community of South Australia greater assurance of the benefits that this project will bring to Kangaroo Island,” he added.
Once completed, the Seaport facility in South Australia will be suitable for timber, passenger, and general cargo shipments.
It will handle about 12 shipments of plantation timber per year and be used for around 60 days each year for timber export.
Of the 25,000 hectares that KPT owns, 15,000 hectares are plantation timber.
The first rotation will yield an average 600,000 tonnes of harvest per year over a 14 year period, with the second rotation to take 12 years to reach maturity.
Once the information has been provided, a final decision regarding development approval will be made.
KPT is up 2.4 per cent on the market and shares are trading at $1.28 at 1:28 pm AEDT.