Decision
 
Consent granted
Section 12(a) Overseas Investment Act 2005
Section 13(1)(b) Overseas Investment Act 2005
Decision makerOverseas Investment Office
Decision date20 September 2018
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest (approximately 33ha subject to final survey) located at State Highway 34, Kawerau, being a lease of part of Computer Freehold Register 31322 (South Auckland).

An overseas investment in significant business assets, being the Applicant’s investment of total expenditure to establish a business on the Land exceeding $100m.

ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act
ApplicantFenglin Wood Industry (New Zealand) Co., Limited
China Public (51.39%)
Yichuan Liu, Hong Kong (SAR) (48.61%)
LessorPutauaki Trust
New Zealand Public (96.0%)
Australian Public (4.0%)
Background

The Land is Māori Freehold land located near Kawerau.

The Applicant intends to lease the Land in order to establish and operate a new particle board (PB) production facility which will be one of the largest single-line PB production lines in the southern hemisphere (with a maximum production capacity of 600,000m³ of particle board per annum). Key features of the production line include high safety, high efficiency and a high degree of automation.

The new facility is expected to create 110 direct full time jobs, introduce new technology into New Zealand, generate increased export receipts and processing of primary products, increase productivity and enhance domestic services, along with other benefits (in particular for local contractors and beneficiaries of the Putauaki Trust). The cost of the proposed development will exceed $100m and is expected to be completed by the end of 2024.

More informationHeida Donegan
Kensington Swan
Private Bag 92-101
AUCKLAND