Hawke’s Bay Regional
Council will await advice from its investment company, HBRIC
Ltd before it decides its next step on the Ruataniwha Water
Storage Scheme.
The Supreme Court has today
announced its decision on a conservation land exchange,
which is required for the Ruataniwha Water Storage Scheme to
go ahead.
Hawke’s Bay Regional Council Chairman
Rex Graham says the Council’s investment company is
analysing the decision and the Council needs to await advice
from it before it can decide what happens next.
He
says the Council committed to funding the scheme three years
ago; however, a new long term planning cycle is getting
underway, along with a capital review, which will examine
all the Council’s investments.
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