These three articles show NZ's need for outside capital to allow us to grow our agricultural production.
There will be employment, ownership and competition issues over all these projects that could be argued, but NZ competes in a world market and we are short of capital to expand.
Getting the balance right will be the job of the politicians, lobbyists, and bureacrats,but it will be interesting to see if there is as much furore as the Chinese interest in Crafar farms.
Also announced more dairy plants to be built, is it really necessary for all this new processing capacity?? Historical thoughts come to mind with meat processing plant expansions, and now closures!
The multibillion-dollar global investment fund of Cambridge, Massachusetts-based Harvard University is poised to buy the Big Sky Dairy Farm, near Patearoa, for $NZ28 million, subject to Overseas Investment Office approval. Big Sky, one of the country's most ambitious and contentious dairying proposals, has been in receivership for more than three years - mired in legal action, owing about $30 million reports The ODT.
If the OIO approves the sale, Harvard will combine Big Sky's annual output of 1.1 million kg of milk solids with another dairy farm it owns in the district, to produce about 1.8 million kg a year by 2013.
NZFarming Systems Uruguay needs to raise about US$60 million to complete the development of the company, says chairman John Parker. It was looking at selling farms which were largely undeveloped and had sold one for about US$8 million, Parker said. The company had the ability to take on another bond issue in Uruguay. It leaves a number of possibilities of equity raising in NZ , or from current shareholders, new shareholders ." The S$60 million would be enough to take the company through to completion, he said reports The NZ Herald
Work on a Maori-owned milk-processing plant capable of churning through 1.1 millon litres of milk a day, creating 60 jobs, is under way in the central North Island. Miraka has begun building the plant at Mokai, 30 kilometres northwest of Taupo. The Miraka project is the second independent milk processor mooted for the central North Island. Zoagn has lodged a notified resource consent application for its $100 million Arapuni Milk plant with South Waikato District Council.
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