New Zealand declared Forestry and Wood Processing Industry Transformation Plan (ITP)

Posted on December 13, 2022   |  

The ITP will boost wood processing in the country and grow a low-carbon, high-value timber industry, and opens up domestic opportunities such as converting wood into high-tech low-carbon products such as construction materials, timber frames, fence paling and decking, and into bio-materials such as liquid and solid fuels.

The government allocated $27 million (NZS) in Budget 22 to fund the delivery of the ITP and has ring-fenced another $155 million to support ITP-related initiatives and projects.