| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 09 June 2021 |
| Pathway(s) | Sensitive land - Substantial & Identifiable Benefit to New Zealand |
| Investment | 146.54 hectares of land at 180 Gavin Road Rerewhakaaitu, Rotorua |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Kaingaroa Timberlands Partnership Canada (55.50%) New Zealand (44.50%) |
| Vendor | T C H Holdings Limited New Zealand (100%) |
| Background | The Applicant holds freehold land, Crown Forestry licences and forestry rights covering approximately 206,000 hectares of land in the central north Island. It intends to convert the land being acquired into a tree nursery producing mainly pinus radiata seedlings and cuttings for use in its forestry operations. The main benefits to New Zealand include the creation of at least 20 permanent jobs to run the tree nursery once developed; introduction of at least $8.9 million into New Zealand for the Applicants developments and advancement of the Government’s One Billion Trees Strategy. The Ministers granted consent as they considered the Applicant to have met the investor test and that the benefit likely to occur as a result of the investment to be substantial and identifiable. The Minister of Finance has determined that the Investment is not contrary to New Zealand’s national interest. |
| More information | Andrew Petersen Bell Gully PO Box 4199 Auckland 1140 |