Regional Development Minister Shane Jones has announced $15.5 million in Regional Infrastructure Fund (RIF) support for two Bay of Plenty projects aimed at expanding marine infrastructure and exploring geothermal energy opportunities.
Jones said $12.5 million would be invested through a mix of loan and equity funding to develop the Ōpōtiki Marina, with project partners contributing a further $12.5 million. The marina will include a basin, wharf, piers, boat ramp and associated facilities to support the region’s growing aquaculture industry, particularly mussel farming, and is expected to support up to 87 construction jobs.
In a separate initiative, a $3 million grant will fund the Gas to Geoheat – Tauranga Geothermal System Project, led by GeoExchange NZ Limited and local landowners. The project will drill two exploratory wells in the Mount Maunganui and Te Puke/Rangiuru areas to assess geothermal resources and generate publicly available data for future renewable energy developments.
It is expected to create between 15 and 20 jobs during the exploration phase. Jones said the investments were intended to strengthen regional infrastructure, create employment and support long-term economic development in the Bay of Plenty.
Image credit: Robert Calvert
