Over the next 15 years New Zealand’s principal Maori group, Ngai Tahu, plans to increase the value of its agricultural investments to exceed $1.5 billion, in part through the conversion of forest land to dairy farms. The Ngai Tahu will invest $600 million into land conversion, stocks and dairy company shares. The first tranche will be $150 million and the conversion of forest in Eyrewell and Balmoral to irrigated pastures. Ngai Tahu have already begun operating three pilot dairy farms with three more planned to include 7,000 cows and shares in Fonterra. Land being held for conversion includes 7,000 hectares at Eyrewell, 9,000 hectares at Balmoral, and 10,000 hectares on the West Coast, with approximately 30% of the Balmoral land cleared.
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