Hawke’s Bay Regional Investment Company Ltd (HBRIC)
Statement of Intent
The investment company’s objective is to improve the diversification and return of HBRC’s investments to fund the organisation’s strategic agenda without increasing general rates.
HBRIC Ltd will target potential investments in water storage (Ruataniwha Water Storage Scheme), land (improved land use/technology), infrastructure (commercial property) and logistics (Port of Napier Ltd). Investment in any one of these categories has a multiplier effect on the others, i.e. investment in water storage enables efficient land use and potentially contributes additional tonnages exported through the Port of Napier.
The main goal of HBRIC Ltd is to ensure an efficient export based economy, while maintaining dividends at a level which sustain a healthy operating budget.
There are five independent directors on the HBRIC Ltd transitional board. They are Andy Pearce - Chairman (until end 2016), Jim Scotland, Sam Robinson, Danelle Dinsdale and David Faulkner. Blair O'Keefe is HBRIC Ltd Chief Executive.
It is expected the company’s full board will be appointed after the date of the RWSS financial close.