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HBRC awaits advice from its investment company

Hawke’s Bay Regional Council will await advice from its investment company, HBRIC Ltd before it decides its next step on the Ruataniwha Water Storage Scheme.

The Supreme Court has today announced its decision on a conservation land exchange, which is required for the Ruataniwha Water Storage Scheme to go ahead.

Hawke’s Bay Regional Council Chairman Rex Graham says the Council’s investment company is analysing the decision and the Council needs to await advice from it before it can decide what happens next.

He says the Council committed to funding the scheme three years ago; however, a new long term planning cycle is getting underway, along with a capital review, which will examine all the Council’s investments.

6 July 2017

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