Natural Dairy eyes far North property

The company at the centre of a large scale bid to buy New Zealand dairy farms has earmarked land in the far North to buy, should the plan to purchase the Crafar dairy empire fall through.

Representatives for Natural Dairy have been scouting Kaipara and Kerikeri in the Far North seeking cluster farm purchases, in the event the Overseas Investment Office blocks a sale of the Crafar farms.

In a press release issued this week, New Zealand First leader Winston Peters says sale and purchase agreements have already been drawn up, subject to conditions.

Hong Kong stock exchange-listed Natural Dairy (NZ) Holdings said in March it was trying to raise $1.5 billion to fund an acquisition spree to buy properties that once belonged to the Crafar family.
The purchase rests on the company raising the money and OIO approval.

Peters, who claims he has documents relating to the Chinese farm purchases, said any sale would represent the beginning of the end for the local dairy industry.

Peters said the far North local mayor and the council's traffic engineer had been with the purchasers to view commercial land at Ngawha Springs, which is owned by the council, and then to a farm fronting a lake near Kerikeri Airport.

Two hectares of land was to be cut out from the lakeside property and sold to the Chinese interests at an extraordinarily high price, he said.

"This land purchase is vital to the plan. It is under the OIO five hectare approval threshold and proximity to significant volumes of water is needed for a milk solids to powder plant operation," he said.

The buyers were promised resource consent approval within 20 working days, he said.

Peters said the dealings made up a "tangled charade that is against New Zealand's interests and reputation".

"If the Government had any thought for our short and long-term social and economic interests, it would have stepped in a long time ago," he said.