| Decision | Consent granted Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 18 March 2024 |
| Pathway(s) | Sensitive land – Benefit test Significant business assets |
| Investment | Acquisition of a freehold interest in approximately 14.85 hectares of land located at Morven Glenavy Road, Waimate, Canterbury. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | South Island Resource Recovery Limited China 60% New Zealand 40% |
| Vendor | Withheld under section 9(2)(a) of the Official Information Act 1982 New Zealand 100% |
| Background | The Applicant is a joint venture between China Tianying Incorporated and Renew Energy Limited. The Land currently forms part of a dairy farm but is surplus to operations. The land is LUC 3. Subject to receiving the necessary resource consents, the Applicant intends to construct and operate New Zealand's first large scale waste to energy plant on the land. The facility will convert municipal and construction solid waste into steam, water and electricity. The main benefits to New Zealand include increased jobs, significant capital expenditure, the introduction of new technology and business skills and energy production. Consent was granted as the Applicant met the investor test and the Investment is likely to result in benefit to New Zealand. The Minister of Finance has decided that the Investment is not contrary to New Zealand's national interest. |
| More information | Robert Huse Anderson Lloyd (Auckland) P O Box 399 Shortland Street Auckland 1140 |