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

 


BCI Scheme Experiencing Significant Growth

BCI Scheme Experiencing Significant Growth

The Ashburton district will experience a significant burst of economic activity with the further expansion of the BCI irrigation scheme. A farmer capital raising process closed recently with applications for around 1500 litres per second of new irrigation water, an irrigable area of close to 3,500ha.

“The recent uptake of new water will see the scheme experience a fantastic 30% growth for the year” says General Manager John Wright.

The growth is assisted through the development of a new pipeline in the Valetta area which is being developed through an infrastructure sharing arrangement with Valetta Irrigation Limited. “The sharing arrangement is a great opportunity for Valetta Irrigation to get some value from overcapacity in their primary delivery pipeline from the RDR, and provides the BCI Scheme with a pragmatic delivery solution which ensures there is no duplication of irrigation infrastructure in the area” says Mr Wright.

Other areas to experience growth in the scheme are Ashburton Forks and Methven.

The BCI Scheme is a joint venture between farmer cooperative Barrhill Chertsey Irrigation Limited and local electricity lines cooperative EA Networks.

EA Networks and joint venture Chairman John Tavendale says “we are all excited by the recent growth in the irrigation scheme and the economic growth it will provide to the district. The joint venture development is a great example of how a high level of cooperation can benefit the whole community”.

The BCI Scheme has also been progressing with consents for the stage two development in the area between Barrhill and Chertsey. It is intended that a further capital raising prospectus for this project will be released over the next few months.

“The stage two project has the potential to fully utilise the remaining 1500 litres per second in the first tranche of water the joint venture planned to sell over the first five years of the development” says John Wright.

“There is a real opportunity to secure some of this highly reliable irrigation water in this area when the pipe network goes through.”

The expansion of the irrigation scheme has also been assisted through the granting of a Land Use consent by Environment Canterbury last year. The new consent allows the BCI Scheme to expand while managing nutrient losses to water through farm intensification on behalf of irrigator customers.

“Significant effort is going into the development of Farm Environment Plans and audit systems to ensure that all users of BCI Scheme water are proactively managing their farm intensification to minimise any negative impact on the environment” says Mr Wright.

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