Kangaroo Island investment approved

WRF Securities Ltd has achieved significant milestones in relation to its proposed blue gum project on Kangaroo Island in South Australia.

This follows a product ruling for the project from the Australian taxation office and development approval from the Kangaroo Island Council.

The decisions clear the way for a prospectus to be finalised on the Kangaroo Island Managed Investment Scheme, a long-term plan to develop 20,000 hectares of blue gum plantations on Kangaroo Island over a ten year period.

The plan is to settle initially on some 2,500 ha of prime agricultural property. Treecorp Pty Ltd has been appointed to manage the plantation.

WRF Securities’ managing director Rob Nichevich said: “We have also received development approval from the Kangaroo Island Council for the Kellendale and Stun Sail Boom properties.”

The approval permits these properties to be used to grow Tasmanian blue gum plantations in a manner that is consistent with normal forest methods used to grow this species of gum tree.

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