|
Decision |
Consent granted |
|---|---|
|
Decision Maker |
The Minister for Land Information and the Associate Minister of Finance |
|
Decision Date |
02 May 2022 |
|
Pathway(s) |
Benefit to New Zealand (substantial & identifiable) |
|
Investment |
Acquisition of a freehold interest in 176.36 hectares at 3/84 Herman Road, Ohaupo, Waipa, Waikato |
|
Consideration |
$10,000,000 |
|
Applicant |
Western Developments Limited Partnership |
|
Vendor |
Crater Lake Developments Limited |
|
Background |
The Applicant intends to develop a recycling centre on the land, with supporting rail infrastructure. The recycling centre will utilise high speed laser scanning and sorting technology. Once operational, the recycling centre will result in increased domestic services through improved capacity for plastic recycling in Hamilton and its surrounds. The individuals involved in the transaction have relevant experience in the construction and plastics industries. The recycling centre will process HDPE (2) and LDPE (4) plastics, which the Applicant considers are not adequately recycled at the moment. This investment aligns with Government policy on processing recyclable waste and will result in capital investment estimated at $100 million over the next 10 years. The construction of the recycling centre will create a large number of temporary jobs and some ongoing permanent roles. The Ministers were satisfied that the investors were suitable persons to invest in New Zealand, that the investment was likely to be of benefit to New Zealand and that the benefits delivered by the investment were likely to be substantial and identifiable. |
|
More information |
Daniel Wein |