Overseas investment decision for case 201900003 - The New Zealand Redwood Company

The Applicant is the largest grower of redwood trees in New Zealand and is the largest supplier of redwood planting stock to other New Zealand redwood growers.

The Applicant has a long-term business plan that is based on planting approximately 100 hectares of redwoods per year in the Taumarunui area over 35 years.

This standing consent under Schedule 4(3) of the Act has been granted in accordance with the special forestry test set out in section 16A(4) of the Act.

This standing consent will permit the Applicant:

• to acquire up to 4,000 hectares of yet to be identified sensitive land  located in the Manawatu-Wanganui area;
• a maximum of 10 transactions by 31 October 2023 (the duration of the standing consent).

This standing consent will act as a form of pre-approval whereby the Applicant must notify the Overseas Investment Office each time it settles a transaction in relation to this standing consent.