| Notification |
Section 23A Overseas Investment Act 2005 |
|---|---|
| Notification number | 2 (of 20) |
| Decision date | 28 September 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 302.15 hectares of land at 2261 Te Kopia Road, Reporoa, Rotorua, Bay of Plenty. |
| Asset value | $5,040,000 |
| Applicant |
Oji Fibre Solutions (NZ) Limited |
| Vendor | Matarere Farm Limited New Zealand (100%) |
| Background |
The Consent Holder was granted a standing consent under the special forestry test on 9 September 2020. This permits the Consent Holder to acquire up to 15,000 hectares of land in up to 25 transactions by 30 September 2024. This is the second acquisition of Land under the standing consent. The vendor used the land for sheep and beef farming and consent holder is now converting the land into a commercial forest. 5 hectares of land with existing Pinus Radiata and Eucalyptus will be harvested before the end of January 2024. After this a mixture of Pinus Radiata and Eucalyptus will be planted on the Land. Eucalyptus trees will be harvested in 16 -18 years and Pinus Radiata in 25- 27 years. The land consists of LUC 6 with 270 hectares and LUC 7 with 30 hectares. |
| More information |
Chris Parke |