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Equity Investment Options for Community Irrigation Projects

MAF Technical Paper No: 2002/10

Prepared for MAF Policy

by: 

Brett Gamble, 
Deloitte Touche Tohmatsu,
Christchurch

ISBN No: 0-478-07690-8
ISSN No: 1171-4662

October 2002

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Disclaimer

While every effort has been made to ensure the information in this publication is accurate, the Ministry of Agriculture and Forestry does not accept any responsibility or liability for error or fact omission, interpretation or opinion which may be present, nor for the consequences of any decisions based on this information.

Any view or opinions expressed are entirely those of the Researcher and do not represent the official view of the Ministry of Agriculture and Forestry.

The information in this report and any accompanying documentation is accurate to the best of the knowledge and belief of the Consultant acting on behalf of MAF Policy. While the Consultant has exercised all reasonable skill and care in the preparation of information in this report, neither the Consultant nor MAF Policy accept any liability in contract, tort or otherwise for any loss, damage, injury, or expense, whether direct, indirect or consequential, arising out of the provision of information in this report.

Requests for further copies should be directed to:

Publication Adviser
MAF Information Bureau
P O Box 2526
WELLINGTON

Telephone: (04) 894 0100
Facsimile: (04) 894 0720

This publication is also available on the MAF website at www.maf.govt.nz/publications

© Crown Copyright - Ministry of Agriculture and Forestry

Contents

• Preface 
• Acknowledgements 
• 1. Executive Summary 
  • 1.1 Introduction 
  • 1.2 Funding water enhancement schemes 
  • 1.3 Phases of Development 
  • 1.4 Seed capital funding 
  • 1.5 Design and construction funding options 
  • 1.6 Debt Funding Providers 
  • 1.7 Equity Funding Providers 
  • 1.8 Other funding support 
  • 1.9 Corporate structure
  • 1.10 BOOT Model
  • 1.11 Legislative Constraints
• 2. Objective and Scope
• 3. Investment in Large-scale Water Developments 
  • 3.1 Private sector (excluding water users) 
  • 3.2 Public sector 
• 4. Phases of Water Enhancement Development 
• 5. Funding Phases 1 & 2 - Seed Capital 
• 5.1 Providers of seed capital 
• 6. Funding Options for Phases 3 - 5 
  • 6.1 Business finance 
  • 6.2 Project finance 
  • 6.3 BOOT funding model 
• 7. Debt Funding Options for Business or Project Finance 
  • 7.1 Private debt 
  • 7.2 Government (Public) debt 
• 8. Equity Funding Options for Business or Project Finance
  • 8.1 Private equity 
  • 8.2 Government (Public) equity 
• 9. Other Financial Support 
  • 9.1 Financial guarantees 
  • 9.2 Government (Central or local) underwriting 
• 10. Build, Own, Operate, Transfer (BOOT) 
  • 10.1 Advantages and disadvantages of BOOT 
  • 10.2 BOOT Example - Kaipara District Council 
  • 10.3 Public Vs private BOOT providers
  • 10.4 Key unresolved issues 
• 11. Risk Identification & Mitigation 
  • 11.1. Private sector investment 
  • 11.2 Public sector investment
• 12. Constraints Under Legislative & Regulatory Environment 
• PDF version

Commissioned report as input to development of government policy

Contact for Enquiries

MAF Information Services
Pastoral House
25 The Terrace
PO Box 2526
Wellington, NEW ZEALAND

Fax: +64 4 894 0721
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