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Major forests agreement signed



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FOR PRESS

STATEMENT BY THE MINISTER FOR THE INTERIOR

MR. PETER NIXON

MAJOR FORESTS AGREEMENT SIGNED

An agreement for the Australian Capital Territory's

first major industry, a $4.3 million wood products industry,

was signed in Canberra today.

The Minister for the Interior, Mr. Peter Nixon,

who signed for the Government, said the industry was ‘

significant because it would be the first fully-integrated

timbepf industry in Australia. .

It would create about 300 jobs and provide $500,000

annually in royalty payments to the Commonwealth Government.

' Three Australian forestry companies - Australian

Paper Manufacturers Ltd. , Hancock Bros. P.ty. Ltd., and '*

Duncan's Holdings Ltd. - have joined forces to form a new

company, Integrated Forest Products Pty. Ltd., to manage the

project. Operations will begin in 1971. '· .

The consortium is to build near Canberra at an

estimated cost of $4.3 million: .

. a large sawmill with an initial log output of

.34 million superfeet. · . .

. . a plywood plant with a capacity equivalent to

100 million square feet. . '

. a chipping,plant which whuld produce chips

. suitable for pulp and particle board manufacture.

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