May 19, 2014
Ngai Tahu out of dam project
Ngai Tahu has walked away from the controversial Ruataniwha Water Storage Scheme in central Hawkes Bay.
Ngai Tahu Holdings Corporation says its investment in the $265 million project was always conditional on the involvement of a suitably qualified partner.
Trustpower bailed out in March after tough environmental conditions were imposed on the project, and no replacement has been found.
Hawke's Bay Regional Investment Company chief executive Andrew Newman says the South Island tribe has indicated it is ready to talk again if more investors are found.
He says the regional council subsidiary is still trying to get workable resource consents through the Environmental Protection Authority’s Board of Inquiry, and it is signing up farmers to water use agreements.
Copyright © 2014, UMA Broadcasting Ltd