| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 27 January 2021 |
| Pathway | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 284.1072 hectares of land at Herekino, Northland and a freehold interest in approximately 786.8812 hectares of land at Taipa, Northland (Adamson Forest). |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Summit Forests New Zealand Limited Japan (100%) |
| Vendor | Smith Road Farm Limited, Paranui Forest Limited, and Dalian Koushin Enterprise Group Co., Ltd The People’s Republic of China (100%) |
| 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 Applicant is a New Zealand based subsidiary of Sumitomo Corporation and owns and manages commercial forestry assets, primarily in Northland. The Applicant will acquire two existing commercial forests, being Twin Valley Forest (284 hectares, located near Herekino) and Adamson Forest (786 hectares, located near Taipa), both in Northland. The Applicant is also acquiring forestry rights over standing trees on the land. Twin Valley Forest and Adamson Forest together have a total area of 1,070 hectares with a combined net stocked area of 702 hectares of radiata pine, which will reduce slightly to 670 hectares due to increases in areas for infrastructure and buffer land. The combined unplanted area will increase slightly to 374 hectares, with the majority of this (329 hectares) being native bush that will be retained. The Applicant intends to continue the use of the land as commercial forests and replant the crop of trees following harvest. |
| More information | Mr Kenji Okawa Summit Forests New Zealand Limited Level 10, 57 Fort Street Auckland Central 1010 |