| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 December 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 222.8604 hectares of land at 6111 Turakina Valley Road, Hunterville, known as ‘Pinehills Forest’. |
| Consideration | $500,000 |
| Applicant | China Forestry Group New Zealand Company Limited The People's Republic of China (100.0%) |
| Vendor | Pinehills Forest Limited New Zealand (80.5%) Australian (5.5%) United Kingdom (5.0%) United States (2.0%) China (2.0%) Crete (2.0%) Netherlands (1.0%) Taiwan (1.0%) France (0.5%) Thailand (0.5%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The land being acquired is already a commercial forest with 204.6 hectares planted in pinus radiata (established in 1997). The remaining land contains 8.5 hectares of indigenous vegetation, 0.7 hectares of other exotic trees and 9.0604 hectares is unplantable land containing ridges, gullies, steep land and boundary setbacks. The Applicant intends to reduce the stocked area of land by approximately 2 hectares to create the required harvest infrastructure. The Applicant intends to harvest the existing crop of trees and replant following harvest. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 Wellington 6140 |