In 2022, Hancock Victorian Plantations (HVP) entered into a $120 million agreement with the Victorian Government to increase the Victorian plantation forestry estate via the Gippsland Plantations Investment Program (GPIP).
The GPIP involves a State Government commitment of $120 million to contribute to the acquisition of private lands in Gippsland for the sole purpose of establishing new softwood (Radiata Pine) forestry plantations.
HVP Plantations will also contribute a similar amount to acquire the lands, prepare the sites and plant and care for the trees. The program is anticipated to provide significant economic benefits to the region, and it will increase domestic supply of softwood timber.
For more information about GPIP, read the FAQs sheet here: https://www.hvp.com.au/wp-content/uploads/2023/04/GPIP-FAQ-V2-2.pdf