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HBRC & consultants assess potential water storage investment

5 February 2014

HBRC appoints independent consultants to assess potential water storage investment

Hawke’s Bay Regional Council has appointed two independent consultants to assess the business case for the Ruataniwha Water Storage Scheme (RWSS) and identify and evaluate alternative investments.

HBRC is considering investing up to $80 million in water storage through its investment company HBRIC Ltd. Before making a final decision Council has previously advised it would seek independent assessment of the scheme and consult with the public.

The RWSS business case will be presented to Council later this month and professional services consultancy Deloitte has been contracted to undertake a peer review of it.

Meanwhile, Nimmo-Bell & Company Ltd has been awarded the contract to identity and evaluate alternative investments for HBRC.

The business case assessment will consider the financial feasibility of the investment, the return on investment and the risks. The alternative investment assessment will identify possible alternative investments and evaluate each of them.

HBRC Interim Chief Executive Liz Lambert says both consultants will provide Council with the independent advice it needs to help it decide whether or not to invest in RWSS.

ENDS

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