The South African government is expected to give the green light to the preferred bidder for a forestry package in the Southern and Western Cape later this year or early in 2003.
A bid was received from furniture manufacturer and timber products exporter Steinhoff in June 2001, after which the bidding process was opened to any interested parties. Formal bids were received from Steinhoff and one other company, Cape Sawmills.
The deal will see the transfer of state-controlled forestry assets amounting to around 6,000ha under a 75 year lease. It is expected the deal will be completed by August or September next year.
