Land Information New Zealand

07/31/2018 | News release | Distributed by Public on 07/30/2018 21:00

Innovative aerospace company Rocket Lab has secured Overseas Investment Office (OIO) approval to enter long-term leases in land for its New Zealand launch site and tracking[...]

31 July 2018

Innovative aerospace company Rocket Lab has secured Overseas Investment Office (OIO) approval to enter long-term leases in land for its New Zealand launch site and tracking station.

The investment approval allows the company to complete its testing phase and move into a commercial phase.

Rocket Lab has to date been carrying out research, development and testing through its headquarters in Auckland.

It has approval to lease for the next two decades:

  • 25 hectares of Māori freehold land at Mahia, from where it launches its rockets.
  • Less than a hectare of farm land on the Chatham Islands for a tracking station that communicates with launch vehicles and satellites.

The OIO granted consent for the long-term lease because it will mean Rocket Lab can move to a commercial phase where it is likely to deliver new professional opportunities in high-technology engineering, new technology and business skills, export services, and to provide opportunities for New Zealanders.

Kiwi Peter Beck heads the company, whose shareholders are mainly based in the United States.