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Kangaroo Island Plantation Timbers Ltd to establish multi-user wharf site

Kangaroo Island Plantation Timbers Ltd to establish multi-user wharf site

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) will carry out a soil and groundwater study as part of its effort to establish a multi-user wharf site at Smith Bay on Kangaroo Island, South Australia.

Kangaroo Island Plantation is Australia’s only listed timber company, managing a wholly-owned portfolio of hardwood and softwood forestry plantations on Kangaroo Island, South Australia.

The results of the soil and groundwater study will assist in the environmental management of construction and operational activities.

An improved understanding of the geotechnical conditions will help in the design of the landside facilities needed for the storage and handling of timber products at the multi-user wharf facility.

Additionally, the company is undertaking a marine study and a terrestrial ecology survey, to assess the possible impacts of the project on marine communities and other species that inhabit the area.

In June, Kangaroo Island Plantation established a $550,000 loan facility with an entity associated with the chair of the company, Paul McKenzie.

The share price of the company has increased by about 90% since March 2016.

 

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