| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Section 13(1)(b) Overseas Investment Act 2005 |
| Decision maker | Overseas Investment Office |
| Decision date | 20 September 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest (approximately 33ha subject to final survey) located at State Highway 34, Kawerau, being a lease of part of Computer Freehold Register 31322 (South Auckland). An overseas investment in significant business assets, being the Applicant’s investment of total expenditure to establish a business on the Land exceeding $100m. |
| Consideration | $8,500,000 |
| Applicant | Fenglin Wood Industry (New Zealand) Co., Limited China Public (51.39%) Yichuan Liu, Hong Kong (SAR) (48.61%) |
| Lessor | Putauaki Trust New Zealand Public (96.0%) Australian Public (4.0%) |
| Background | The Land is Māori Freehold land located near Kawerau. The Applicant intends to lease the Land in order to establish and operate a new particle board (PB) production facility which will be one of the largest single-line PB production lines in the southern hemisphere (with a maximum production capacity of 600,000m³ of particle board per annum). Key features of the production line include high safety, high efficiency and a high degree of automation. The new facility is expected to create 110 direct full time jobs, introduce new technology into New Zealand, generate increased export receipts and processing of primary products, increase productivity and enhance domestic services, along with other benefits (in particular for local contractors and beneficiaries of the Putauaki Trust). The cost of the proposed development will exceed $100m and is expected to be completed by the end of 2024. |
| More information | Heida Donegan Kensington Swan Private Bag 92-101 AUCKLAND |