Kangaroo Island Plantation Timbers Ltd (KIPT) has signed a Memorandum of Understanding with Flinders Ports Pty Ltd, under which the parties will work together on an exclusive basis to achieve a port operating model for KIPT’s proposed KI Seaport.
The model will produce an optimal solution for the port owner, port operator and port users, having regard to the outcomes achieved by Flinders Ports at the other South Australian ports that it variously owns, operates and/or provides port management and related services.
The parties have also agreed in the MoU to share and protect each other’s intellectual property in relation to marine operations at the KI Seaport.
Flinders Ports is South Australia’s leading port operator, with seven ports. It operates and provides services at other third-party ports in South Australia.
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.