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The Overseas Investment Commission has approved the lease of land at Kuratau west of Lake Taupo to a Maori-Chinese joint venture which intends to develop a sheep dairy farm.
The applicant says sheep milk powder produced will be exported to the Chinese market, for sale through its distribution network.
Maui Milk is 40 percent owned by Waituhi Kuratau Trust, with the rest owned by four Chinese nationals.
The commission says there are substantial and identifiable benefits to New Zealand in terms of jobs, increased export receipts, added productivity and increased processing of primary products.
Waituhi Kuratau Farm Trust is one of New Zealand’s leading producers of sheep milk and yoghurt, which it sells under the Hipi brand.
Up to now much of its output has gone to Australia.
It also supplies many artisan cheese makers and has joint ventures with others in the fledgling industry.
Copyright © 2016, UMA Broadcasting Ltd: www.waateanews.com
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