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Following the Regional Forest Agreement, the Tasmanian Government announced a Forestry Growth Plan in November 1998. The plan involves partnerships between the State Government, Forestry Tasmania and industry. The plan includes:
In June 1999 after a three-year program supported by successive State governments, Forestry Tasmania entered into a joint venture arrangement with international fund manager GMO Renewable Resources, to develop State-owned softwood plantations to world scale. This joint venture involved a 50% sale of the northern softwood plantation resource for $48.8m and accelerated investment in plantation expansion.