| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 15 May 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 39 hectares of land located at Poihipi Road and Tukairangi Road, Taupo. An overseas investment in significant business assets, being the Applicant’s establishment of a business in New Zealand where the total expenditure expected to be incurred in establishing that business exceeds $100m. |
| Consideration | $6,000,000 for the land and development costs exceeding $100 million to complete the development of the geothermal power plant. |
| Applicant | Rainbow Holdings NZ Limited Wanying He, China, People's Republic of (100%) |
| Vendor | Fisher Finance Limited New Zealand (100%) |
| Background | The Applicant intends to complete development of the power generating geothermal facility located on the land. The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Sylvia Cheah Anthony Harper PO Box 2646 AUCKLAND 1146 |