Feasibility study confirms viability of world-class timber manufacturing opportunity for Portland
The completion of the Hardwood Timber Manufacturing Hub (HTMH) Feasibility Study marks a major milestone for the Green Triangle, confirming the commercial and technical viability of establishing a world-class engineered timber manufacturing facility in Portland.
The study completes Phase One of The Precinct, a long-term vision to develop Australia’s largest integrated plantation timber manufacturing and prefabricated housing component precinct in the Green Triangle.
Led by the Commonwealth-funded Green Triangle Forest Industries Hub (GTFIH) and delivered by IndustryEdge, the stage one feasibility study has been made possible through the strong partnership and investment of local industry, supported by the Victorian Government.
As the first phase of The Precinct, the HTMH will convert locally grown plantation hardwood (Eucalyptus globulus) into Glue Laminated Timber, a high-value engineered timber product primarily used as structural beams in residential and commercial construction. The second phase proposes the delivery of a Laminated Veneer Lumber production line, supported by a third phase: a component fabrication centre.
This manufacturing investment reduces Australia’s reliance on imported product and replaces Victorian native forest resource which is no longer locally available, supporting the nation’s housing targets and strengthening sovereign manufacturing capability.
Precinct Chair Russ Hughes said the project represented a “once-in-a-generation opportunity for regional Victoria”.
“This feasibility study demonstrates that the Green Triangle has a high-quality plantation resource available, industry capability and strategic location to become a leading centre for engineered timber manufacturing,” he said.
“Phase One of The Precinct has built a compelling investment case that creates greater value from our sustainably grown hardwood plantation resource while delivering long-term economic and manufacturing benefits for Victoria, and indeed the nation.”
Phase One of The Precinct is expected to attract more than $200 million in investment, create 74 permanent jobs in its first phase and generate significant construction employment.
As The Precinct develops through future stages, it has the potential to support around 280 ongoing jobs, process more than one million tonnes of plantation timber annually, and manufacture building components supplying around 20,000 homes each year.
The project builds on more than five years of research managed by the GTFIH and supported by the Commonwealth Government, focused on deriving more local value from traditionally exported wood fibre resources, both softwood and hardwood.
Mr Hughes said the Victorian Government’s commitment had been instrumental in progressing the project from concept to investment readiness.
“The Victorian Government has been a key partner throughout this journey, helping transform an ambitious idea into an investment-ready project that strengthens regional manufacturing, creating skilled local jobs for future generations,” Mr Hughes said.
The next stage of The Precinct—supported by major Australian industry partners, funding from Australian Forest & Wood Innovations and additional funding support from the Victorian Government—will focus on the development of Laminated Veneer Lumber product, with production trials due to begin in August.
Work is also ongoing to attract investment and advance detailed development planning for the site.
Recent News
August 21, 2026
Forestry Investment Leader David Brand to Headline The Precinct Investor Symposium
Influential forestry investment leader Dr David Brand will headline an Investor Symposium hosted by The Precinct in Melbourne this October as investors explore an initial $200 million-plus opportunity to establish large-scale engineered wood product manufacturing in Victoria’s Green Triangle. Dr Brand, founder of global forestry investment manager New Forests, will deliver a keynote address on 14 October 2026, drawing on more than four decades of experience across forestry investment, forest management and natural capital. Russ Hughes, chair of The Precinct and former CEO of Australian Bluegum Plantations, will host the invite-only event as investors assess the commercial pathway, market opportunity and investment case for the world scale Precinct development, proposed for Portland in south-west Victoria. The event marks a return to the investment origins of Dr Brand’s work in Australia. He founded New Forests in 2005 with a single forestry asset in the Green Triangle with the goal of bringing institutional capital into the plantation sector. The business has since grown into a global operation with $10.6 billion in assets under management with a portfolio covering plantations, timber processing, agriculture, conservation, carbon and natural capital. From the outset, Dr Brand recognised that the value of a forest extended well beyond the sale of wood fibre. His work helped advance a more sophisticated view of forestry as an asset class, capable of delivering additional value through carbon, biodiversity, conservation and broader landscape outcomes. Just as carbon created a new way to value plantations, Dr Brand will explore the next evolution of the sector, transforming established plantation resources, traditionally exported as raw fibre, to be the feedstock for higher-value, domestically produced engineered wood products and prefabricated construction systems - markets experiencing strong domestic demand and constrained supply. The symposium follows the completion of the Hardwood Timber Manufacturing Hub feasibility study, which confirmed the technical and commercial pathway for the initial stage of The Precinct development. The proposed initial stage, earmarked close to port and transport infrastructure, represents more than $200 million in investment and would establish a large-scale Glue-Laminated Timber (GLT) manufacturing facility, supported by a state-of-the-art sawmill and major log merchandising facility. It will use locally grown plantation hardwood, creating an estimated 74 permanent jobs and anchoring future stages of engineered wood product manufacturing, including Laminated Veneer Lumber (LVL) and prefabricated building component manufacturing. The market opportunity is significant, with Australia importing close to $1 billion of engineered wood products and wood panels each year, including significant volumes of LVL, GLT and plywood used extensively in housing construction. The Precinct Chair Russ Hughes said the symposium came at pivotal moment for investors and the region’s forestry sector. “Victoria has an established plantation resource, but too much of its potential value leaves the region before it is converted into higher-value products,” Mr Hughes said. “The opportunity is to connect the resource we already grow with engineered wood manufacturing and prefabrication capability, so more of the economic value, skilled employment and industrial capability is retained in Australia, helping to meet our growing housing needs. “Dr Brand has been at the forefront of forestry investment for decades. His experience, including the early New Forests investment in the Green Triangle, gives him a particularly relevant perspective on the opportunity now emerging for this globally recognised region.” Under the theme “From Plantation to Product to Prefabrication”, the invitation-only symposium will bring together institutional investors, industry leaders, government representatives and project partners to consider the investment case, market opportunity and pathway to delivery. The Precinct is supported by major industry contributions and the Commonwealth Government’s Australian Forest and Wood Innovations (AFWI) and the Victorian State Government. To learn more about the development visit www.theprecinctportland.com.au
April 23, 2026
Plantation Processing Precinct Powers Jobs in Portland
The Albanese and Allan Labor Governments have joined forces to back the development of Australia’s largest plantation hardwood and softwood processing facility in Portland – creating local jobs and boosting regional manufacturing.
