INDEPENDENT NEWS

Government signs off on Chinese water bottling expansion

Published: Tue 12 Jun 2018 03:10 PM
Government signs off on Chinese water bottling expansion in Whakatane
By Sophie Boot
June 12 (BusinessDesk) - The government has granted a Chinese-owned company permission to expand a water bottling plant in Whakatane.
Creswell NZ, which is wholly owned by Chinese bottled water supplier Nongfu Spring Co, applied to buy freehold and leasehold interest in 6.2 hectares of land at Otakiri, near Whakatane. The land is classed as sensitive under the Overseas Investment Act because it is more than 5 hectares of non-urban land and borders conservation land.
Land Information Minister Eugenie Sage and Associate Finance Minister David Clark have granted the application, conditional on the company providing an additional 60 fulltime jobs within four years and getting the resource consents it needs under the Resource Management Act, they said in a joint statement today. The company still needs water permits and other resource consents from the Bay of Plenty Regional Council and Whakatane District Council before it can buy the land.
"The Overseas Investment Office recommended approval as Creswell NZ Ltd met the test to provide substantial and identifiable benefits to New Zealand,” Clark said. "Specifically more jobs, exports, greater productivity and additional capital investment for the country."
Creswell has said it will spend $42.5 million to upgrade the existing plant and establish two new bottling lines, creating 32 jobs in the first two years and 60 once the plant is fully operational. The OIO can force Creswell NZ to sell the land if it does not create the jobs, Sage said.
The government's bill to prevent foreigners from buying existing houses in New Zealand, the Overseas Investment Amendment Bill, is currently being considered by a select committee, which is due to report by June 21 before it has its second reading. Sage said that the Overseas Investment Act "will also be more widely reviewed this term.”
(BusinessDesk)
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
Contact BusinessDesk
Email:

Next in Business, Science, and Tech

Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
By: RNZ
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months
By: Spark
Bar reopening night 'much, much quieter'
By: RNZ
New Zealand’s population passes 5 million
By: Statistics New Zealand
Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist
By: NIWA
Tax changes throw cash lifeline to SMEs
By: New Zealand Government
Some Indicators Pick Up As New Zealand Moves Out Of Lockdown
By: Statistics New Zealand
Astronomers Discover The Science Behind Star Bursts That Light Up The Sky
By: University of Canterbury
International passenger numbers at Auckland airport drop 95 percent
By: RNZ
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media