| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 4 June 2014 |
| Investment | An overseas investment in sensitive land, being Wellington Gateway Partnership No 2 LP’s (“LP2”) acquisition of leasehold interests in various land relating to the construction and operation of the Transmission Gully State highway project (“TG Project”); and An overseas investment in significant business assets, being LP2’s establishment of a business undertaking the design, construction, finance, maintenance and operation of the TG Project where the total expenditure expected to be incurred exceeds NZ$100 million. |
| Cost of Commencing Business | $180,000,000 |
| Applicant | Wellington Gateway Partnership for and on behalf of Wellington Gateway Partnership No. 2 LP Accident Compensation Corporation (45.0%) InfraRed Infrastructure III General Partner Limited, United Kingdom (40.0%) Leighton Contractors Pty Limited, various overseas persons (15%) |
| Background | The application relates to the NZ Transport Agency’s (“NZTA”) public private partnership procurement process in respect of the design, construction, finance, maintenance and operation of the TG Project. The TG Project is one of the Government’s Roads of National Significance. The NZTA's objective for the TG Project is to provide an alternative strategic link for the Wellington region that improves regional road network efficiency, resilience and route security. The overseas investment transaction has satisfied the criteria in section 16 and 18 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Simon Vannini Simpson Grierson Private Bag 92518 AUCKLAND 1141 |