FONTERRA WELCOMES IRRIGATION INVESTMENT COMMITMENT
Today’s announcement by the Primary Industries Minister, David Carter confirms an $80m investment.
Fonterra Co-operative Group has welcomed today’s announcement by the Primary Industries Minister, David Carter confirming an $80m investment in this year’s Budget for irrigation and water storage infrastructure.
Managing Director Co-operative Affairs, Todd Muller, said the investment announcement, coupled with the establishment of a Crown vehicle to co-invest in water schemes, was an important step towards boosting agricultural productivity and exports.
“Water is fundamental to dairying and agricultural productivity. Enabling a mix of public and private funding will give investors the necessary confidence to push ahead with schemes at the regional level.
“We will see benefits flow through in increased production and export earnings and we will also see the environmental benefits which will come from improved water flows.
“This investment will not only benefit the agricultural sector, but the economy as a whole.”