The Tasmanian Premer, Lara Giddings, has welcomed the decision by New Zealand billionaire Richard Chandler to invest $150 million in Gunns Limited, saying it was "a sign that Tasmania is well and truly open for business”.

 

Mr Chandler’s investment is consistent with his history of investing in distressed companies and turning them around. Chandler was listed in Forbes Top 300 Billionaires last year.

 

Ms Giddings said the investment was a massive boost for Gunns Limited that would bring the pulp mill closer to fruition.

 

“The Labor Government strongly supports the pulp mill and we welcome the Richard Chandler Corporation’s commitment to work with Gunns to bring the project to financial close,” Ms Giddings said.

 

“The $2.3 billion pulp mill would be wholly plantation fed and would create more than 3000 jobs at a time when the forest industry is going through a difficult transition.

 

“Today’s announcement highlights the ridiculousness of Will Hodgman’s claim that Tasmania is closed for business.

 

“His view is not shared by the TCCI*, it is not shared by the Real Estate Institute of Tasmania*, and it is clearly not shared by one of New Zealand’s richest men.

 

“This kind of self-serving politicking does nothing to support Tasmanian businesses or create jobs in our state.