New Zealand council evaluating water storage scheme

Hawke’s Bay Regional Council (HBRC) in New Zealand has appointed two independent consultants to assess the business case for the Ruataniwha Water Storage Scheme (RWSS).

HBRC is planning to invest up to $80m in the long-term sustainable water supply solution for Central Hawke’s Bay. Before making a final decision, the council is seeking independent assessment of the scheme and carrying out a consultation with the public.

Nimmo-Bell & Company has secured the contract to identify and evaluate alternative investments for HBRC, while Deloitte will examine the RWSS business case, and present it before the council later this month.

The business case assessment will consider the financial feasibility of the investment, its likely return and the risks involved.

HBRC interim chief executive Liz Lambert said that both consultants will provide the council with the independent advice it needs to help it decide whether or not to invest in RWSS.

The council’s investment arm aims to improve the diversification and return of its investments in order to fund the council’s strategic agenda without increasing general rates for taxpayers.