The dire state of the plantation forestry sector has been highlighted by a move by growers to wind up their Australian Growth managed investment schemes run by RuralAus Investments.
Perth-based forestry group, RuralAus Investments, has kicked off a study to determine the viability of constructing a $30 million biomass power station fuelled by plantation timber residue on Kangaroo Island.
Fremantle-based RuralAus Investments Ltd, formerly Australian Growth Ltd, has exorcised more of its demons with the buyback today of $185,000 worth of shares held by the creditor's trust, set up when the company went into administration in 2003.
