Ruataniwha promoter seeks mix of equity, debt funding, sees long-term value in spot water

Jonathan Underhill
Thu, 26 Nov 2015

By Jonathan Underhill Nov. 26 (BusinessDesk) - Hawke's Bay Regional Investment Co, the developer and sponsor of the Ruataniwha Water Storage Scheme, says the $275 million project will be funded with a mix of equity and debt, and is likely to result in a secondary market for water contracts. HBRIC, the investment arm of Hawke's Bay Regional Council, is in talks with three potential investors and banks about funding. The council is putting up $80 million for an equity stake in a yet-to-be formed irrigation company. The $195 million balance...

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