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Tainui Group Holdings’ $3 billion inland port at Ruakura is a step closer to reality with the Government appointing an independent board of inquiry to consider its request for a plan change.
Environment Minister Amy Adams says the board will be headed by Environment Court judge Melanie Harland and include environment commissioner Jim Hodges, planning consultant Jenny Hudson and engineer Gerry Te Kapa Coates.
If they accept the plan change, there will be an inquiry and public hearings, and the board must deliver a decision within nine months of the notification.
That cuts out what could be years of delay if it was to go through the Hamilton council’s plan process
Tainui and partner Chedworth Properties want to build a 500-hectare commercial hub, housing area and inland port over the next 30 to 50 years.
Tainui Group Holdings has also taken on its first chief investment officer.
Craig Stephen held a similar position at finance company turned bank Heartland, and he has also worked for Pyne Gould Corporation and Fonterra.
Chief executive Mike Pohio says while the bulk of the company’s assets will continue to be in property, it wanted to diversify its investments to achieve higher cash returns.
Copyright © 2013, UMA Broadcasting Ltd
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