Holcim buys land near proposed plant site, New Zealand

Holcim buys land near proposed plant site, New Zealand
Published: 03 March 2008

Holcim is buying land around its $200m cement plant at Weston, sand quarry at Windsor and opencast coal mine at Ngapara to provide a buffer zone for its proposed operations.  
 
The company, which will not make a decision until later this year, at the earliest, whether to build the plant, has bought an 8.722ha lifestyle block opposite the cement plant on the Weston-Ngapara Rd and has other sales pending.  
 
It has approval from the Overseas Investment Office (OIO) for the purchase of the lifestyle block owned by Ali and Joy Kingan and approval is pending for other purchases.  
 
Holcim needs OIO approval because it is an overseas-owned company, 90% in Switzerland and 10% in the United States.  
 
Holcim’s capital projects manager Ken Cowie confirmed the purchase of the Kingan property yesterday, but said the price was confidential. Mr Kingan,also added that the cp,[amu intended to buy another property in North Otago.  
 
"We will have to find somewhere else to live," he said.  
 
When Holcim announced its intention in 2006 to build the plant, Mr Kingan had reservations about continuing to live on the lifestyle block, which they were developing for their retirement.