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Kangaroo Island Plantation Timbers proposed seaport a “high priority”: SA Freight Council

The company is proposing to build a timber export facility at Smith Bay on Kangaroo Island’s north coast.

Kangaroo Island Plantation Timbers Ltd - Kangaroo Island Plantation Timbers proposed seaport a “high priority”: SA Freight Council
The KI Seaport has been designed as a multi-user facility

Kangaroo Island Plantation Timbers Ltd’s (ASX:KPT) proposed timber export port has been listed as a “high priority” for South Australia by peak industry body the SA Freight Council.

The council’s Moving Freight 2019 report, submitted to Infrastructure SA, notes that, while there are a number of port proposals around SA, “all proposals except Smith Bay are subject to demand and rely upon specific ventures proceeding”.

A secure cargo

SA Freight Council said that the KI Seaport proposal for Smith Bay, by contrast, already had a secure cargo – $60 million annually in timber.

“A key policy consideration for Government and industry is the need to ensure that a balance is struck between protecting an investor’s rights to access his own infrastructure investment, and the desire to ensure access by third parties to common user facilities and equipment,” the report says.

Kangaroo Island Plantation Timbers has, from the outset, proposed and designed a multi-user facility.

Need for government investment in roads

SA Freight Council’s report also recognises the need for government investment in the road network to support the KI Seaport proposal.

Read the full Moving Freight 2019 report here.

The SA Freight Council advises the Federal and State governments on industry-related issues and is funded by industry and government.

It represents road, rail, sea and air freight modes and operations, and assists the industry on issues relating to freight logistics.

A “private development”

The council’s CEO Evan Knapp spoke at the SA Major Projects Conference in Adelaide last week, where Kangaroo Island Plantation Timbers’ executive director John Sergeant joined him on a panel discussing ‘Building A Stronger SA: Plans, Priorities and Opportunities’.

Sergeant said: “KIPT’s port was distinctly different from other projects on show in that it is a private development, not taxpayer-funded.

“It was also good to showcase a project in the regions, as many of the others were Adelaide-based.”

Quick facts: Kangaroo Island Plantation Timbers Ltd

Price: 2.5 AUD

ASX:KPT
Market: ASX
Market Cap: $140.2 m
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