Wrecked farms get a $23 million makeover
When state farmer Landcorp took over the dilapidated ex-Crafar farms in the North Island four years ago, it had little idea of the challenges lying ahead.
But Shanghai Pengxin chief executive Gary Romano says though they have talked to the OIO they still do not know when a decision may be made.
“The sale and purchase agreement is conditional on regulatory approval in China and New Zealand and until that happens we can’t settle.”
Romano agrees July-February is a long time.
The proposed purchase of Lochinver by Shanghai Pengxin has been controversial. There is speculation that part of Lochinver could be converted to dairy farming because it backs on to another farm Shanghai Pengxin bought from the receiver of the Alan Crafar farm business.
Romano observes, “This is a separate process from that of the purchase of station. Firstly you have to purchase the farm and to do this you need OIO approval. If we get this we still need to apply for consents and even if we get these there will probably be conditions that may apply.
“So is there is a valid concern… and a valid process to deal with that concern. The RMA process is set up to balance economic growth and environmental protection and stakeholders get a say in the process.”
Lochinver, owned by the Stevenson family, runs 19,000 breeding ewes, 1323 mixed age breeding cows, grazes 2300 dairy cows over winter and can hold 14,500 dairy heifers in quarantine.
