Jones: PGF loan for Taranaki Pine

Wednesday 21 Nov 2018

Three years ago Taranaki sawmiller Tom Boon was unsure if his company Taranakipine would have a secure log supply over the long term following a change of ownership of Te Wera Forest, in east Taranaki. Boon’s doubts were put to rest this week when China Forestry Group Corporation (CFG), which bought the 3500 hectare Te Wera Crown Forest licence in 2016, signed a seven year agreement to supply 100,000 tonnes of logs to Taranakipine.

The agreement was boosted by a $1.9 million loan from the Government’s provincial growth fund. About $1.8m of the loan would be spent on buying a new German-made fully automated processor to manufacture laminated floor and ceiling panels for export at the company’s Bell Block site, north of New Plymouth.

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