new jv partners?

From Mercury TAS,

TWO potential European joint-venture partners in the Tamar Valley pulp mill have confirmed they are no longer interested in the project.

It now appears the two most likely potential partners with pulp-mill proponent Gunns Ltd are Asian-based pulp and paper companies Asia Pacific Resources International Ltd and Asia Pulp and Paper.

Singapore-based Asia Pacific Resources owns plantations across Asia, and pulp mills in China at Shandong.

Its website says it plans to be "one of the largest, best-managed, most profitable and sustainable pulp and paper companies in the world".

Asia Pacific Resources and Indonesia-based Asia Pulp and Paper have faced criticism in the past for clearing native forests in Sumatra and for accumulating billions in debt in the late 1990s and early 2000s, adding fuel to the Asian economic crisis.

Late Monday night, the Federal Government confirmed in Senate Estimates in Canberra that it had recent discussions with Gunns about helping its foreign partner with financial guarantees.

Under questioning from Tasmanian Liberal senator Richard Colbeck and Australian Greens leader Bob Brown, officials from the federal Department of Agriculture, Fisheries and Forestry confirmed they met Gunns.

Officials from the Government's Export Finance and Insurance Corporation arm were also present.

Last week, Tasmanian Premier Lara Giddings said it would be appropriate for EFIC to facilitate future pulp exports by helping a foreign-owned joint-venture partner with financial risk guarantees.

Senator Colbeck said the estimates committee was not told many details of the agenda or outcome of the meeting between Gunns and EFIC.

"My sense was that this had been more a discussion about the project and what EFIC might be able to do for Gunns and its partners, rather than a request for assistance," he said.

"It seemed to have been more an exploratory meeting. I didn't get any sense that Gunns had lodged a formal application with EFIC."

Yesterday, Leif Broden, chairman of Swedish forest products company Sodra, re-affirmed that his company was definitely "not participating" in the $2.5 billion project.

Finnish paper mill and energy company UPM also has confirmed it has "no specific plans in Tasmania" and is "not engaged in negotiations with Gunns".

http://www.themercury.com.au/article/2011/02/23/209281_tasmania-news.html