Australia's Kangaroo Island Plantation Timbers Ltd. (KIPT) has signed a contract for the construction of the Kangaroo Island Seaport at Smith Bay.
The contract partners in the Early Contractor Involvement Agreement (ECI), led by Maritime Constructions (MC) from Port Adelaide, include KBR and WGA, two global leaders in the field of civil and marine construction.
The ECI Agreement establishes an innovative Alliance Agreement model, under which the Contractor will build a deep-water wharf at Smith Bay, Kangaroo Island.
KIPT has employed experienced engineer Alan Braggs as its KI Seaport Manager to work directly with MC on the project and the associated agreements and contracts.
In another step forward, the company is also expecting submissions from a number of contractors expressing their interest for significant contracts for the provision of harvest and haulage services on island. This is essential to salvage the softwood logs, which are at most risk of deterioration if not harvested soon.
Managing Director of KIPT Keith Lamb welcomed the Federal announcement last week of the $10m Salvage Storage Fund – Securing Forestry Resources for Economic Recovery.
He said the fund, to help in establishing storage facilities for bushfire-affected timber, was timely for KIPT as its salvage harvest loomed, and could benefit Australian mills.
KIPT still awaits approval for its Kangaroo Island Seaport export facility.
“Kangaroo Island has received two major setbacks this year with the devastation of the fires, and now the COVID-19 pandemic, both of which have had a major impact on the lives and prosperity of Island residents.
“KIPT shareholders and the independent growers on the Island suffered significant losses from the fires, and the company is determined to push ahead with plans to build the Seaport and salvage what it can of the fire-affected logs before decay sets in and any chance of salvage is lost.”
Kangaroo Island Plantation Timbers is Australia’s only listed timberland company. It manages a wholly-owned portfolio of hardwood and softwood forestry plantations, growing on former agricultural land on Kangaroo Island, South Australia.
