Gympie forestry assets now sold

GYMPIE forestry assets have been sold to a North American company, which now holds a 99-year lease to manage, harvest and regrow plantation timber on a significant area of the near-Gympie region.

Queensland Treasurer Andrew Fraser announced the sale in state Parliament, saying the $603 million deal proved that the assets sale policies of his government did not amount to a “fire sale”.

He said Premier Anna Bligh had put forward the idea of the assets sale “to restore strength to our state’s finances in the face of the devastating effects of the global financial crisis”.

He said the plan involved “tough choices to keep our massive nation-leading building program going”.

Gympie MP David Gibson said yesterday he was still trying to obtain full details of which forestry areas were affected by the sale but had so far not obtained an answer.

Gympie Times


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