Further to the Government decision that a concession for the harvesting rights to Coillte’s forests be considered for sale, Coillte Board and management have been actively engaged in recent months with NewERA, the Department of Public Expenditure and Reform and my Department to examine the financial and other implications of developing the potential of Coillte’s forest assets.
The process is at an advanced stage and, aside from the valuation of the forestry assets, a number of issues have been identified in relation to the possible harvesting rights concession. These include, inter alia, the possible impact to the timber industry, environmental and social impacts and consequential implications for the company and levels of employments. These issues, and the measures, if necessary, to address them, require detailed consideration. Case studies of the sale of State owned forestry in other countries, including New Zealand, has formed part of the analysis to date.