HBRIC Ltd Update

Media Release

16 December 2015

HBRIC Ltd Update

Hawke’s Bay Regional Investment Company Ltd (HBRIC Ltd) is confident it can confirm a preferred investor mix for the Ruataniwha Water Storage Scheme before the end of the year.

HBRIC Ltd told today’s Hawke’s Bay Regional Council meeting that intensive work is being done with three potential investors and it continues to target the end of the calendar year to confirm investors for the scheme. However it says it won’t make the decision public until very early in the New Year.

Water Uptake

HBRIC Ltd now has just over 42 million cubic metres of water either contracted or close to it. Of that just over 30 million is in counter signed contracts.

DOC Land Exchange Judicial Review

Forest & Bird’s judicial review of the Department of Conservation land exchange was heard on December 8. Forest & Bird argued the Department of Conservation should have reviewed the conservation values of the 22 hectares of Ruahine Forest Park to be exchanged in isolation, then considered the exchange proposal. Justice Palmer told the court he is hopeful he can release a decision before Christmas.

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