Kangaroo Island Plantation Timbers completes final stage of seaport development application

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) has completed the final stage in its development application for the Kangaroo Island Seaport. The company lodged its formal response document today, which addresses every individual issue raised by government agencies and the community, in either the first or second round of public consultation conducted by the Department of Planning Transport and Infrastructure. Many of the comments received in the initial eight-week public consultation were addressed by the change in marine design announced in September 2019, which was subsequently the subject of a further six-week public consultation period finishing on December 20, 2019.T The company has sought to listen to the community and to respond positively and constructively to every comment so that the project delivers the greatest possible benefits to the community with the least possible environmental effects. KPT is now working through its options for the fire affected resource on behalf of its shareholders as well as the community of independent growers, to commence once the Seaport is constructed. Seven new employees recruited Managing director Keith Lamb said the Island now aced a second significant challenge with the global impact of the COVID-19 pandemic. “As the Island faces this new challenge and its severe impacts on tourism and hospitality, the commencement of construction and forestry operations will provide a significant boost for the local economy and more specifically for workers seeking new opportunities. “The company has already recruited seven new employees as part of the recovery plan following the bushfires. “Once approval is obtained for the construction of the KI Seaport, the company and its partners will be able to make further announcements on the significant employment growth created through the construction, and subsequent start-up phase of harvesting and replanting." Alterative access for freight “The infrastructure created by the Kangaroo Island Seaport development will also provide alternative access for freight to and from the Island. “This could assist in times of crisis, such as the recent bushfires, when there was an urgent need to import fodder for grazing animals and defence force equipment and materiel. “Similarly, there will be international containerised freight opportunities that do not currently exist. “The company anticipates that the infrastructure could have other customers from the agriculture and tourism sectors in future, although future non-forestry uses will be subject to regulatory approval.” KPT will now seek to establish the conditions under which its shares can resume trading on the Australian Securities Exchange.