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A potential investor in Hawke’s Bay’s Ruataniwha Water Storage Scheme has today withdrawn from the Memorandum of Understanding signed in September 2013.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

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news