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

 

Fonterra seeks consent to build new drier at Pahiatua

Fonterra seeks consent to build ‘Darfield-sized’ milk powder plant at Pahiatua site

Dec. 5 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest exporter of dairy products, is seeking consents to build a new milk powder plant at Pahiatua, more than doubling output from the site and mopping up surplus milk in the lower North Island.

The third drier at Pahiatua would process 2.5 million litres of milk a day, making it a similar size to its new 2.2 million litre-a-day plant at Darfield in Canterbury. The two existing driers at Pahiatua process 1.4 million litres a day, forcing Fonterra to send a further 1.6 million litres by rail to its Whareroa plant.

“While most of the growth in dairy is coming from the South Island we are still seeing some growth in the North Island and we want to be able to process extra milk in a way that enables the most value to our farmers,” said Fonterra’s director of NZ operations, Brent Taylor.

Fonterra isn’t disclosing the potential cost of the new drier though it spent $200 million on the first stage of its Darfield facility and will spend a further $300 million on stage 2, which is underway now.

Units in the Fonterra Shareholders’ Fund fell 1.6 percent to $6.64 on the NZX today, having sold in the initial public offering at $5.50 apiece.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: