New Premier digs in on Gunns deal
Andrew Darby; 19/6/08
Gunn’s $2 billion Tasmanian pulp mill has been called into further question as the state’s new Premier, David Bartlett, withholds support for it. Mr Bartlett said yesterday he would not be rushed by the timber giant into extending a sovereign risk guarantee for the mill’s wood supply. The $15 million guarantee, agreed to earlier this year by the government of former premier Paul Lennon, will be paid if a later parliament reduces the timber supply from public land to the mill. It was designed to give assurance to potential mill investors. Gunns has asked for an extension of the agreement as it seeks finance for the mill, following the ANZ’s decision not to fund the project.
See: http://www.theage.com.au/national/new-premier-digs-in-on-gunns-deal-20080618-2szh.html