Bay of Plenty projects backed by RIF investment

The Government is supporting Bay of Plenty’s economic growth with funding for two projects through the Regional Infrastructure Fund, Regional Development Minister Shane Jones says.

“These investments are about backing the infrastructure and resources that will drive long-term regional growth and economic prosperity,” Mr Jones says.

The Government is investing $12.5 million through the Regional Infrastructure Fund (RIF) towards the development of Ōpōtiki Marina, supporting construction of a marina basin, wharf and piers, a boat ramp, and related marine infrastructure. Up to 87 jobs will be supported during construction.

“This is the final major infrastructure component needed to support the scale-up of aquaculture in Ōpōtiki.

“The marina will provide year-round safe berthing for aquaculture and commercial vessels, improve the efficiency of mussel harvesting and servicing operations, and support further investment in marine industries,” Mr Jones says.

The funding is made up of a loan and equity. Project partners will provide co-funding of $12.5m.

The investment builds on significant investment already made by central government, iwi and local government to establish aquaculture farms, a mussel spat facility in Te Kaha, and a mussel-processing facility and a new harbour entrance in Ōpōtiki. 

Separately, a $3m grant from RIF funding ring-fenced for geothermal projects will support the Gas to Geoheat – Tauranga Geothermal System Project, an early-stage geothermal exploration initiative in partnership with local landowners. The project will drill two test wells in the Mount Maunganui industrial area and Te Puke/Rangiuru area. 

“This is a public-good initiative that will support potential future energy projects such as neighbourhood central heating networks in which geothermal heat is supplied through a shared network to multiple buildings instead of each building installing its own system,” Mr Jones says. 

Led by GeoExchange NZ Limited and landowners, the project will create publicly available geothermal data that will help in understanding the resource and renewable energy opportunities for the region. The project is expected to create 15-20 jobs during delivery.

“The Bay of Plenty is rich in natural resources with economic potential. These investments will help unlock that potential, support jobs, strengthen energy security and create opportunities for future regional development,” Mr Jones says. ...