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Kangaroo Island Plantation Timbers Ltd

Kangaroo Island Plantation Timbers receives government comments on wharf plan EIS

The company believes that all issues raised by the SA Government agencies can be satisfactorily addressed in a response document.

Plantation on Kangaroo Island
KPT plans to construct a wharf to support the export of timber plantation products

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) believes that all issues raised by government agencies on the Smith Bay Wharf Draft Environmental Impact Statement (EIS) can be addressed satisfactorily in the response document.

This view is based on its own analysis as well as that of its specialist advisers.

The company is seeking to build a wharf at Smith Bay on Kangaroo Island’s north coast to support the export of products from timber plantations on the island.

READ: Kangaroo Island Plantation Timber progresses wharf consultation response, makes key board change

KPT has received and reviewed the consolidated comments from all relevant South Australian Government agencies on its EIS.

This feedback along with public submissions must be considered by KPT in preparing the response document.

KPT will analyse and respond to all submissions, constructively and respectfully, with a view to delivering the project in a way that benefits the island and the state, while protecting the environment and existing island businesses.

The company is not aware of any matter that would prevent the project from being approved and remains confident that development consent will be forthcoming.

READ: Kangaroo Island Plantation Timbers properties provide valuable bird habitat

Government agency comments have been released by the Department of Planning, Transport and Infrastructure, at the direction of the Minister and can be found by clicking here.

A small number of issues will require further scientific and engineering analysis, the extent of which will depend upon the degree to which KPT decides to amend its original proposal to address or eliminate impacts.

South Australia’s major development process encourages the modification and improvement of projects to address public and government agency comments, together with any new information that may arise through the consultation process.

KPT will continue to investigate design enhancements for the in-water structure, to further reduce dredge quantities, improve circulation of water in Smith Bay and further increase separation from sensitive receptors.

Landside changes will also be considered by the company and its project partner Mitsui.

The company is considering the impact of any such changes on capital and operating costs.

After considering recent changes in market prices of hardwood chip and pine logs, together with expected production costs, KPT’s forecasts of net operating cash flow expected over the 10 years during which existing plantations will be harvested are materially unchanged.

Quick facts: Kangaroo Island Plantation Timbers Ltd

Price: $2.40

Market: ASX
Market Cap: $134.6 m
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