Posts tagged "Provincial Growth Fund"

A company going public within a year is getting a $15 million Provincial Growth Fund loan

(8 July/The Country) Geothermal company Geo40, who is expecting to list on the Australian Stock market, is set to receive a loan of $15 million from the Provincial Growth Fund. It is expected that $5 million of that loan will be converted to shares after the initial public offering. Geo40 plans to have its IPO...

$68 million boost announced for Hawke’s Bay, water the big winner

[11 June/The Country] $30.6 million has been allocated to four water security schemes across the Hawke’s Bay from the Provincial Growth Fund, with the projects to be managed by Hawke’s Bay Regional Council. The largest chunk is $14.7 million to develop a Managed Aquifer Recharge (MAR) in Central Hawke’s Bay. MAR replenishes aquifer levels by...

Kiwi quarter acre backyard paradise transformed into urban farm

[04 June/Stuff NZ] Carl and Kati Freeman turned their urban Taranaki 0.1 hectare property into an urban farm growing organic vegetables two years ago and now they want to help others do the same. The Freeman couple used $1000 capital to transform their lawn into a vegetable patch, which now produces over 25 varieties of...

Bid to PGF to fund controversial mine?

[17 May/The Country] The Otago Daily Times understands the Clutha District Council (CDC) and Plaman Resources have discussed a possible application to the billion-dollar Provincial Growth Fund to help fund a controversial mining proposal. Plaman Resources wants to mine up to 500,000 tonnes of diatomite a year from its Foulden Hill site near Middlemarch but...

Bye-bye boat visits when marine farms get sensor-ed

[21 April/Stuff NZ] Plans are in place to put a sensor on each of the 600 marine farms in the Marlborough Sounds. The sensors are being implemented for live environmental data to be available for the Marlborough District Council ensuring farms stay compliant and regulators can operate remotely. Sensors would also be attached to harbourmaster...

Govt calls off $10m loan to Westland Milk following sale news

[19 March/The Country] The government has announced that they will no longer loan $9.9 million from the Provincial Growth Fund to Westland Milk Products after the news it is likely to be sold to a Chinese company. Westland has signed a conditional agreement to sell to Hongkong Jingang Trade Holding $588m. Shane Jones, Regional Development...

$400k given to Massey for innovation

[08 March/Rural News Group] A new ‘Rural Innovation Lab’ at Massey’s Palmerston North campus will be granted $400,000 by the Provincial Growth Fund (PGF). The laboratory will help give farmers and growers in the Manawatu-Whanganui area to think afresh, particularly around digital farming and improving land-use according to Fletcher Tabuteau, the Under-secretary for regional economic...

State loan for Westland Milk

[29 November/Rural News] A loan of $10 million from the Provincial Growth Fund to Westland Milk Products will enable the dairy co-operative to build a new $22million plant at Hokitika. The plant will allow Westland to separately process multiple types of special quality milks into high value products, these are likely to include A2 milk...

Wairarapa charts its path to prosperity through water, trains and trees

[12 November/Stuff] Wairarapa needs better trains, lots of water storage, improved work skills and more trees if it’s going to realise its path to prosperity, according to the Wairarapa Economic Development Strategy and Action Plan, which was launched recently. The plan, created by the region’s three councils, targets three key industries to help lift the...

Tairawhiti region gets $150m in Provincial Growth Fund money

[7 September/The Country] More than $150 million will be provided to the Tairawhiti region from the Government through the Provincial Growth Fund. The funding would go towards developing jobs, transport, infrastructure, and business. The money would be contributed over five years. A connection between the Cook landing site at Kaiti beach and Titirangi Reserve would...

One billion trees achievable but challenging, says Forest Owners Association

[14 August/NZ Herald] The Forest Owners Association has welcomed the announcement by Forestry Minister, Shane Jones, that $240 million from the Provincial Growth Fund will be allocated to get more trees in the ground under the One Billion Trees Programme.  The Association’s CEO, David Rhodes, urged caution noting that while one billion trees is possible...

Govt could step in to help Kaitaia’s biggest employer

[3 August/Radio NZ] Regional Economic Development Minister, Shane Jones, suggested government funds could be used to safeguard Kaitaia’s biggest employer. The plant was run by Juken New Zealand which was a subsidiary of Juken Nissho. It employs 300 people and makes a timber product, Triboard. The company has said it is running short of raw...

Budget gets tick

[21 May/Farmers Weekly] The primary sector saw some gains in the Government’s first budget, with science, research and forestry being the biggest increases. Federated Farmers Vice President, Andrew Hoggard, said the $85 million allocated to Mycoplasma bovis may not be enough. National’s Agriculture Spokesman, Nathan Guy, said the amount allocated to biosecurity was half of...