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

 


Ngai Tahu withdraw from Ruataniwha Water Storage Scheme

Media Release

19 May 2014

Ngai Tahu withdraw from Ruataniwha Water Storage Scheme

A potential investor in Hawke’s Bay’s Ruataniwha Water Storage Scheme has today withdrawn from the Memorandum of Understanding signed in September 2013.

Ngai Tahu Holdings Corporation Limited (NTHC) today released a media statement withdrawing its intention as a potential investor in the scheme.

According to HBRIC Chief Executive Andrew Newman, NTHC’s withdrawal is tied to TrustPower’s earlier withdrawal from their stake in the MOU.

“Ngai Tahu have been looking for a partner with infrastructure expertise as well as an entity already operating in the South Island. TrustPower brought both of those qualities to the table and Ngai Tahu were depending on an investor partner to meet those needs,” said Andrew Newman.

While withdrawing from the MOU, NTHC have also signalled that they are open to dialogue with HBRIC should those conditions again be met.

HBRIC continues to focus on gaining workable resource consents through the Environmental Protection Authority’s Board of Inquiry, and the signing of Water User Agreements with farmers.

“If both of these ‘conditions precedent’ are met, we are confident of raising the capital we will need,” added Mr Newman.

Conversations continue with other potential investors.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news