Ōpōtiki Marina development project backed by RIF investment

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

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

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.

“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,” Jones said.

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

Separately, a $3 million grant from RIF funding ring-fenced for geothermal projects will support the Gas to Geoheat – Tauranga Geothermal System Project.