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September 14, 2023
Fisheries deal creates certainty for growth
Adam Gifford
Posted On September 14, 2023
Download AudioThe head of Moana says a deal to take over Sanford’s annual catch entitlement for North Island inshore fisheries gives the
iwi-owned seafood company the certainty it needs to invest confidently in future activies.
The multi-year deal has been cleared by the Commerce Commission, and the two companies are working through final details on staffing and transfer of some processing assets.
Steve Tarrant says Moana will lease the quota for around $10 million a year.
It also takes over the contract fishers and some staff and processing facilities.
He says it means the company will be able to give contract fishers the certainty they need to refresh their fleets – which will make he industry more attractive for young Maori.
“We’ve got old boats, old ageing boats, they’re not very comfortable. In this day and age there’s lots of other options available to young Maori in to employment. We’ve got to make it attractive but also create and show them a pathway through our businesses or a pathway into their own ownership and this scale allows us some certainty because it’s a 10 (year) plus five plus five deal,” Mr Tarrant says.
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