Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

TrustPower exit creates opportunity for farmer investors

Media Statement

25 March 2014 – for immediate release

TrustPower exit creates opportunity for farmer investors

Farmers and businesses in the Hawkes Bay need to act quickly to fill the investment gap opportunity left by TrustPower’s exit from the Ruataniwha Water Storage Scheme.

“There’s a wonderful opportunity here for Central Hawkes Bay farmers and businesses to get behind the dam to make it work. The Central Hawkes Bay community is now able to be a significant investment partner and take ownership of this project to really drive it forward,” says IrrigationNZ CEO Andrew Curtis.

While some parties may naively present TrustPower’s withdrawal in a negative light, Mr Curtis says it was very common for irrigation schemes to have changing investment partners in the development stage and that TrustPower had only signed a memorandum of understanding.

“The benefit is that the withdrawal allows more local farmers and businesses to buy into the scheme and we know from history that local people driving local solutions always turn out to be the best for the community in the long run,” says Mr Curtis.

“The Hawkes Bay really needs this scheme to proceed as there’s nothing else of significance on the table that would have the ability to reinvigorate the Central Hawke’s Bay economy, create jobs and generate new business opportunities. You only need to look at the looming drought in the Waikato and Northland to see how the provinces suffer when rainfall is low in consecutive years. This is why it is so important to have the right irrigation infrastructure in place to mitigate environmental impacts. The flow-on effects are felt by everybody, not just those working in agriculture.”

“The Ruataniwha scheme is exactly the sort of irrigation scheme New Zealand needs to bring new life to regions like the Hawkes Bay, allowing many of its rural towns to thrive again,” says Mr Curtis.

“IrrigationNZ encourages all potential investors in the Ruataniwha scheme to come to our conference being held in Napier for the first time in just over a week’s time (7th-9th April). You’ll find out everything you need to know about the benefits of investing in water management and how other regions in New Zealand have progressed their water schemes. It couldn’t be timelier to bring an irrigation expo and global irrigation experts to the Hawkes Bay as we’ll be discussing Ruataniwha within a wider debate looking at the future of irrigation in New Zealand.”

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: