Economy
Gunns sets pulp mill time frame
The timber company Gunns predicts processes will be finalised soon that would allow the start of construction of its northern Tasmanian pulp mill.
In financial statements released to the stock market today, Gunns says investment and construction processes would be completed in this financial year.
The company says it is currently dealing with two parties interested in investing in the pulp mill and it hopes to have the finance for the project secured by the end of 2010.
Gunns has also confirmed a loss before interest and tax of $86 million.
Its profit after tax was $28 million, down from $56 million the previous year.