Dodgy Socialist Dam Pushes out Deadline

Fenton "Jong-un" Wilson

Fenton “Jong-un” Wilson

The dodgy socialist dam in Hawkes Bay was supposed to have a?financial close of 31st of March. By then it was supposed to?have signed up all the water users it needed to, but it?hasn’t, not even getting half the water it needs signed up.

The report also reveals HBRIC has again pushed out the?expected “financial close” date for the project – its?self-imposed deadline for finalising a construction?contract, reaching its farmer sign-up target and securing?corporate and government funding – which was March 31 but is?now June 30.

Unfortunately for the promoters they have not even got half?the water signed up. ?

The report says HBRIC has signed contracts with farmers to?take 9.62 million cubic metres of water (9.62 billion?litres) a year and has contracts written but not yet signed?for a further 13.83 million cubic metres a year.

The Board of Inquiry and Court cases have not been?completed, because the socialists running the scheme have?tried all sorts of tricks to make the dam work, rather than?just dealing fairly with stakeholders who keep winning in?court.

The project has faced delays through an ongoing legal?challenge to its consents and a related environmental plan?change for the Tukituki catchment and HBRIC’s report says?that was making sign-up negotiations “slower than we would?like”.

“Uncertainty around the appeals process is a barrier with?some farmers as they would prefer to have the regulatory?regime [consents and plan change] confirmed prior to?completing a contract.”

And yet more people are apparently going to invest but?haven’t signed on the dotted line.

The report also says HBRIC had “active interest” from three?potential cornerstone institutional investors for the scheme?and each had the capacity to provide the eight-figure?funding “in their own right”.

Except I would guess that they can read a balance sheet and a Board of Inquiry report and will run as far as Ngai Tahu did.

 

– HB Today

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