The Australian Associated Press is reporting that the State of Victoria’s government will invest $120 million (AUD) in a soft timber plantation in the state’s southeast. Hancock Victorian Plantations will match the spending to buy, lease, and manage more than 14,000 hectares of softwood plantation.
It is expected that 16 million trees, mainly pines, will be planted in Gippsland in eastern Victoria under the proposed deal.
The state government claims that the new plantation will fortify 2,000 new and existing jobs in regional Victoria but did not confirm how many new jobs would actually be created.
Victorian Agricultural Minster Gayle Tierney said that planting would begin in 2023, subject to final approvals. “This is the biggest investment in Victorian history in a new plantation establishment, making sure we have a strong, sustainable timber supply for decades to come,” she said.
“This is all about guaranteeing the jobs in the timber sector that Victorians and communities rely on,” Tierney added.
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