Crown Irrigation stumped up $2m to keep KDIC alive

The Kurow-Duntroon area. (Image: Waitaki District Council)

Wed, 15 Feb 2023

Crown Irrigation Investments stumped up $2 million to keep Kurow-Duntroon Irrigation Company afloat while it settled its dispute with an Australian stock exchange-listed construction company.In May last year, Kurow-Duntroon Irrigation Company (KDIC) was put into receivership and voluntary administration by Crown Irrigation Investments (CIIL), the community-owned irrigation company’s cornerstone funder. It followed an adjudication process that found KDIC was liable to pay Monadelphous (MENZ) about $12.8m following a dispute over a $4...

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