increase font size
The Government is establishing a company to act as a bridging investor for regional water infrastructure development, outgoing Primary Industries Minister David Carter says.
In 2011 the Government signalled plans to invest up to $400 million in regional-scale schemes to encourage third-party capital investment. Cabinet has now directed that $80 million for the initial stages of the company's operation be set aside in Budget 2013.
"The development of well-designed storage and irrigation infrastructure has the potential to deliver significant economic growth for our primary industries and support new jobs, which will have a flow-on effect for all New Zealanders," says Carter.
"New Zealand naturally has plenty of water – this is about managing the resource better for the economy and the environment."
Carter says because the opportunity to take a stake in developing regional-scale water infrastructure is new for private investors, it is appropriate for the Government to take a bridging investment role to ensure the right projects can get underway.
"The Crown-owned company will be a minority investor in any development project, and it will also plan to be a relatively short-term investor," he says.
"A number of groups are developing proposals for these larger, regional-level schemes, and the Government expects to consider at least one proposal in the next 12 months.
"Reliable irrigation represents a major step in unlocking economic potential for New Zealand, having our tradable sectors growing strongly and delivering on the Government's economic growth goals.
"It will also be better for the environment, as these schemes will lead to more efficient water use, and can provide for the replenishment of aquifers and the restoration of stream and river flows," Carter says.
Opuha Dam's ability to protect South Canterbury communities from major flooding has taken a significant step forward, with Opuha Water Limited (OWL) successfully commissioning a new outlet valve capable of releasing record volumes of water from the dam ahead of a weather event.
Increased competition for water means the whole community is looking at how irrigators use water.
Moves are afoot to get a team of Australians over here to help repair North Canterbury's irrigation machinery, ravaged by the big windstorm of late October.
Horticulture New Zealand (HortNZ) says access to reliable irrigation water is essential for a thriving horticultural sector.
A 100-year-old Canadian irrigation district has taken inspiration from Canterbury irrigation company Central Plains Water's success in converting from an open race irrigation system to a gravity-fed piped system.
Federated Farmers says it welcomes Labour's commitment to reviewing the Sharemilking Agreements Act, calling on other major parties to do the same.
For Canterbury dairy farmers Sian Meijer and Rick Wobben, wearable technology has become one of their most valuable on-farm tools - helping manage 1850 cows across an expansive, high-performing dairy operation while improving efficiency, mating outcomes and day-to-day decision making.
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
The first major update to the Dairy Cattle Code of Welfare in more than a decade has been released, marking what DairyNZ describes as an important step in ensuring animal welfare standards continue to evolve alongside scientific evidence and on-farm realities.
Ravensdown shareholders have elected Jane Montgomery and Kate Acland to the Ravensdown Board for three-year terms, following a closely contested director election.
Federated Farmers says new legislation replacing the Resource Management Act will cut red tape, unlock investment and help grow New Zealand's export-led economy, after the Planning Bill and Natural Environment Bill passed their third reading in Parliament yesterday.
OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities…
OPINION: Your old mate reckons the atrocious way farmers in the UK are treated by their lords and masters in…
