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Dam crumbles as another investor drops out

11 July 2014

Dam crumbles as another investor drops out

With yet another investor pulling out of the Ruataniwha Dam project, it’s time for the Regional Council to pull the plug on the polluting project, the Green Party said today.

Today the Central Hawke's Bay District Council has announced it will not be putting any money towards the project. Previously, Trustpower and Ngai Tahu have pulled out of the project.

“The latest exit from the dam project is an reminder that this project is just not viable,” said Green Party water spokesperson Eugenie Sage.

“The Regional Council’s investment company shouldn’t be asking the public to prop up this risky project, given nobody else is prepared to front up with the cash.

“The project doesn’t stack up economically or, environmentally and half of the proposed jobs the proponents are trumpeting are uncertain.

“This dam project is not an example of the smart investment we need to support a cleaner, fairer New Zealand.

“The Hawke’s Bay Regional Council needs to pull the plug on this risky project and say no to the more than $80 million its investment company wants from the Council.”

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