Results

Land Information New Zealand

08/29/2019 | News release | Distributed by Public on 08/28/2019 21:02

Construction of a new inland port in Hamilton is one step closer after the Overseas Investment Office (OIO) gave consent for Ruakura Inland Port LP to lease the 30 hectares of[...]

29 August 2019

Construction of a new inland port in Hamilton is one step closer after the Overseas Investment Office (OIO) gave consent for Ruakura Inland Port LP to lease the 30 hectares of land it needs for the project.

Construction of a new inland port in Hamilton is one step closer after the Overseas Investment Office (OIO) gave consent for Ruakura Inland Port LP to lease the 30 hectares of land it needs for the project.

The new inland port is a joint venture between Ruakura Limited, which owns the land, and overseas-based C3 Limited.

An inland port is a logistics centre where shipping containers are processed after being sent by rail from a 'traditional' sea port.

Approval was needed for this overseas company to lease the land as it is non-urban land that is greater than five hectares, therefore it is considered sensitive under the Overseas Investment Act.

Construction of the inland port is expected to introduce about $10 million into the economy. 58 jobs are likely to be required during the construction phase, and once completed five permanent jobs will be created. A further six jobs are estimated to be created during the first two years.

The land will remain 100% New Zealand owned, and half of the joint venture will remain owned by New Zealanders.

The inland port is a key part of the Ruakura development, which is expected to become New Zealand's largest integrated commercial and lifestyle development.

C3 Limited is New Zealand's largest on-wharf logistics company.