News

Overseas investment in water bottling plant expansion

An application under the Overseas Investment Act 2005 for Cresswell NZ Ltd to purchase land to expand the existing Otakiri Springs water bottling plant near Whakatane has been approved.

The overseas investment consent was conditional on the company getting the water permits and other resource consents it needs under the RMA from the Bay of Plenty Regional Council and Whakatane District Council.

In approving the application, the Land Information Minister and Associate Finance Minister have gone beyond the standard template to ensure the promised jobs eventuate by setting conditions around ongoing monitoring to keep the consent valid.

The consent means Creswell NZ Ltd can purchase a freehold and leasehold interest in approximately 6.2 ha of sensitive land at Otakiri, near Whakatane.

The land is classed as sensitive under the Overseas Investment Act because it is more than 5 ha of non-urban land and adjoins land held for conservation purposes.

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