| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 22 January 2020 |
| Pathway(s) | Sensitive land – substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 4.7838 hectares of land at 1232 State Highway 1, Wayby Valley, Auckland. |
| Consideration | $1,700,000 |
| Applicant | Waste Management NZ Limited Chinese Government, China, People's Republic of (50.2317%) China Public (32.8883%) Hong Kong Public (16.88%) |
| Vendor | Phillipa Doris Izard-Price, Kenneth Ian Price and James Sidney Wiles New Zealand (100%) |
| Background | The Applicant is one of the largest operators in the New Zealand waste industry. It is acquiring land to be used to increase the adjoining buffer land for its proposed landfill. The Investment is likely to enhance the viability of the other overseas investments, being the Applicant’s proposed landfill and buffer on the adjoining land. The Applicant intends to provide walking access through the bush area on the adjoining buffer land. The Applicant is one of New Zealand’s largest recycling and waste services companies and has undertaken investments to upgrade New Zealand’s landfills. For example, the Applicant invested capital to improve the gas extraction system at Tirohia Landfill, increasing the rate of greenhouse gas capture from 15% to 52.1%. |
| More information | John Brown Brown Partners Lawyers P O Box 1496 Auckland 1140 |
See the attached Assessment report linked below, which was published in response to an Official Information Act request: