Sharechat Logo

Central Plains, Kurow, Waimea water schemes keep Crown construction funding

Thursday 5th April 2018

Text too small?

The government will help fund the construction of irrigation projects on the Canterbury plains and near Kurow and Nelson as it winds back support for large-scale water schemes. 

 

Finance Minister Grant Robertson today said all existing Crown Irrigation Investments Ltd development contracts will be honoured, and that the three named schemes will receive funding for their construction phase given how far down the track they were. The government put its water storage funding contracts under the microscope after campaigning on a platform to end government support for large irrigation schemes. 

 

"I recognise that this decision will be disappointing for proponents of projects that won’t be considered or progressed," Robertson said in a statement. "It is important to remember that schemes may be able to continue, but the government believes that public subsidies for large-scale private irrigation can instead be better directed to other areas of need." 

 

Crown Irrigation provided a $65 million loan to fund construction of the $200 million Central Plains Water Stage 2 project, committed up to $35 million to the $70 million Waimea dam build, and has signed a construction funding term sheet for the Kurow Duntroon scheme. 

 

Robertson said the funding for the three projects can be met through existing appropriations provided the Waimea and Kurow projects raise enough private money within their allowed timeframes. 

 

Small-scale, locally-run and environmentally sustainable storage schemes could be considered for funding on an individual basis via the Provincial Growth Fund, he said. 

 

Primary Industries Minister Damien O'Connor said large-scale irrigation schemes need to be environmentally sustainable and economically viable to support a focus on greater values rather than bigger volumes. 

 

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

AIA - June 2025 Monthly traffic update
CHI - Q2 2025 Operational Update
July 15th Morning Report
BPG - Blackpearl Acquires US AI Platform to Accelerate Growth
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report