[11 December/ Stuff]

New Forests, an Australian forestry company, has set aside $500 million for investing in New Zealand forestry. New Forests Australia and New Zealand Managing Director, Mark Rogers said the money had been recently raised from mainly European investors. The Forest Owners Association said the Government would be keen to use some of these funds as well as other overseas investment for forestry, partly for environmental reasons. The Government has set a target of planting 1 billion trees over 10 years.