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HBRIC Ltd Update

Friday April 1, 2016

Hawke’s Bay Regional Investment Company Ltd (HBRIC Ltd) says the major focus in March has been on working with farmers keen to sign up to take water from the Ruataniwha Water Storage Scheme.

HBRIC Ltd told Wednesday’s Hawke’s Bay Regional Council meeting that whether or not 45 million cubic metres of water is contracted will be the deciding factor in whether the Ruataniwha Scheme goes ahead.

HBRIC Ltd Chief Executive Andrew Newman says new foundation water user agreements have been sent out to farmers with the revised water price. The team from HBRIC Ltd is now working with farmers to confirm water user agreements.

The deadline for farmers to sign up as a Foundation Water User is 18th April 2016.

Design & Construction
Work continues on finalising the design of the dam and extensive distribution network.
The Geotechnical work undertaken to inform the design of the scheme’s diversion tunnel was completed in February, showing good results for rock quality and possible programme timeline benefits.

DOC Land Exchange Judicial Review
Work is well underway on HBRIC Ltd’s approach to an appeal by Forest & Bird of a High Court review which gave the green light to a DOC Land Exchange needed for the scheme to proceed. It is likely that acquiring the land will be done after financial close.

8 April 2016

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