Reliable irrigation crucial to hort sector
Horticulture New Zealand (HortNZ) says access to reliable irrigation water is essential for a thriving horticultural sector.
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.
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.