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Minister welcomes 'green' investment by Toyota.



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MEDIA RELEASE

 

The Hon. John Moore, MP

Minister for Industry, Science & Tourism

 

Monday 29 June 1998

192/98

Minister Welcomes ‘Green’ Investment by Toyota

 

The Minister for Industry, Science and Tourism, John Moore, today welcomed an announcement by Toyota Motor Corporation that it will establish up to 5,000 hectares of hardwood plantations in Australia.

 

The $23 million investment is consistent with the Government’s support for increasing the national plantation estate and reducing global warming. The eucalyptus plantations will produce more than 40,000 tonnes of woodchips per year for use in paper manufacturing.

 

“I am particularly pleased to see a major industry employer like Toyota consolidating its position in Australia, by growing and diversifying its long-term investments here.

 

“Toyota’s decision to choose Australia as the site for this substantial international investment is recognition of Australia’s competitive position in the world,” said Mr Moore.

 

Mr Moore said Australia was chosen ahead of other contenders because of our advanced infrastructure and a proven track record in timber production.

 

The plantations are to be established in Western Australia, Victoria and South Australia, and Toyota expects them to generate export revenues exceeding $170 million.

 

“This investment by Toyota heralds a growing international movement by large manufacturing groups to move into ecological businesses and play an active role in reducing greenhouse gas emissions,” said Mr Moore.

 

The Federal Government’s national investment agency Invest Australia worked closely with Toyota to win this project for Australia.

 

Invest Australia provides investment specialists in Australia and overseas to assist international corporations and individuals to invest here, by providing a wide range of promotion, attraction and facilitation services.

 

More information is available from Hellen Georgopoulos of Invest Australia on 02 62137560.

 

Contact: Chris Wordsworth — Media Adviser — 0262777580 0419982482

Fax: 02 62734104 Email: word@dist.gov.au Web site: http://www.dist.gov.au

 

CMR1176

 

 

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