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

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news