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.
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.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).