Overseas investment decision for case 201810161 - Craigmore Permanent Crop Limited Partnership

The Applicant is a limited partnership established as a horticulture investment vehicle and is part of the wider Craigmore Farming Group.

The land being acquired is currently used for dairying. The Applicant intends to develop at least 94 hectares of the land into a kiwifruit orchard with 70 hectares of that area being canopy. The benefits to New Zealand once the kiwifruit orchard has reached maturity include:

• The introduction of approximately $9 million into New Zealand for development purposes to develop at least 94 hectares of the Land into a kiwifruit orchard (with 70 hectares of that being canopy area). This includes developments such as earthworks, orchard buildings, accommodation, vine structures, shelter, kiwifruit plants and irrigation; 
• The creation of new job opportunities in New Zealand, growing to the equivalent of approximately 32.9 direct seasonal full time equivalent jobs at the orchard in the year 2027;
• Increased exports to the value of $7 million per annum by year 9 of the Investment due to the export of kiwifruit grown on the land;
• Preservation of indigenous flora and fauna through trapping, planting riparian areas on the land in indigenous vegetation, establishing wind shelters, undertaking pest control and trapping programme to protect kiwi and native wildlife and undertaking an ecological survey to identify any further action necessary. There will also be the continued protection of an approximate 4.3ha covenanted area of indigenous vegetation.