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Kangaroo Island Plantation Timbers lodges addendum to draft EIS for proposed KI Seaport

The company proposes to build a seaport to ship timber and timber products from its plantations on Kangaroo Island.

Kangaroo Island Plantation Timbers Ltd - Kangaroo Island Plantation Timbers lodges addendum to draft EIS for proposed KI Seaport
KPT has extensive timber plantations on Kangaroo Island

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) has lodged an addendum to its Draft Environmental Impact Statement (EIS) for the proposed KI Seaport export facility at Smith Bay, Kangaroo Island.

This addendum modifies the proposed design to incorporate changes made by the company, including alterations to the design of in-water structures and providing a mechanism for water circulation.

These changes were made in response to issues raised during the public and agency consultation process conducted earlier this year.

Addendum includes changes

KPT said the addendum was effectively a mini-EIS, addressing each of the criteria against which the marine component of the development is being assessed.

It shows how the environmental impact of the in-water structure is reduced by the changes that have been made to the design.

These reduced impacts arise from the absence of a solid causeway, the elimination of any requirement for dredging, the increased separation from sensitive receptors and the reduced footprint of the design on the seabed.

There are consequential reductions in landside impact because there will be no requirement to process dredge spoil onshore.

At the time of the changes, the company’s managing director Keith Lamb said: “We have taken our neighbours at their word and have modified the project as they have requested, to eliminate the sources of their principal concerns.”

Further public consultation

South Australia’s Minister for Planning has formally advised KPT that he intends to hold further public consultation regarding the revised marine design.

The company said it welcomed the opportunity to share information about the benefits of the changes it had made.

KPT will advise the market when the dates of the public consultation period, and the addendum itself, are made public by the Minister.

The company has a market cap of around $137.4 million and shares last traded at $2.45, having reached a new 12-month high of $2.59 on October 16.

The State Planning Commission and the Environment Protection Agency recently confirmed that the assessment criteria for the proposed KI Seaport had not changed.

KPT is satisfied that all criteria have been met and looks forward to a favourable outcome.

Lamb also said last month: “The trees are ready, the customers are ready, our construction partners are ready, and we are keen to get the project underway so that hundreds of new jobs can be created.

“We are building a facility of which the community can be proud, in a way that respects the environment and our neighbours.

“We trust that all remaining commentary can be conducted in a similarly respectful manner, and with a focus on getting the best possible outcome for all stakeholders.”

Quick facts: Kangaroo Island Plantation Timbers Ltd

Price: 1.96 AUD

ASX:KPT
Market: ASX
Market Cap: $110.59 m
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