Lake Coleridge Storage Available

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The BCI Scheme is contracting stored water with irrigators for the 2013/14 irrigation season and beyond.  This process has been enabled through the variation to the Rakaia River Conservation Order achieved by TrustPower Limited and a subsequent commercial agreement with the power generator.  Irrigators are being asked to nominate a contracted volume of stored water by 30th May 2013 for the upcoming season.  Details of the terms and conditions are attached on the following link;  Coleridge Storage – Fact Sheet 3

2013 Prospectus Released

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Today a Prospectus was registered by BCI Limited to allow new irrigators to invest in shares and get access to water.  The Prospectus and Investment Statement are available on the BCI Ltd page.  New investors need to be aware that Environment Canterbury are yet to approve new consent conditions, under a revised planning platform, to allow new irrigators to use the water secured by making an application under this Prospectus.

New Operations Manager

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Mike Lamb resigned as Operations Manager in June this year and has been replaced this Month by Nick Brook.  Nick lives near Ashburton and had been Engineering Manager at RX Plastics for nine years.  Nick is coming up to speed with the complexities of operating the scheme and is contactable on 0274 224258 or nick@bciwater.co.nz.

Mike came to the scheme when it was very new and has been instrumental in establishing policies and systems to ensure the smooth delivery of water to customers.

Stage Two Considered

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The BCI Scheme is considering development options for the stage two area.  The stage two area fits between Lauriston, Barrhill and State Highway One.  Potential irrigators in the area have been surveyed and the response has been positive.

The intention is to deliver water to the area by gravity at Barrhill and install a pipe line to provide pressurised water to irrigators.  The consented Ashburton Community Water Trust canal is one of the delivery options being considered as well as more regionally integrated alternatives.  MPI is assisting with funding the engineering work.

Capital Raising Extended

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BCI Limited has extended the closing date of its capital raising until 29 June 2012 to allow further applications for water and shares. Further uptake to date under the prospectus has been reasonable but more water is available.

Further Prospectus Registered

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Today Barrhill Chertsey Irrigation Limited (BCIL) registered a further prospectus to raise capital to invest in the BCI Scheme and expand the irrigator base.  New Irrigator Shareholders will be offered shares in BCIL at a cost of around $3000 per litre per second, discounted by 5% if they commit by 30 January 2012. Up to 1500 litres per second of water is on offer for delivery from September 2012.  Documentation is available on the BCI Ltd page of this site.

Capital Raising Successful

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Barrhill Chertsey Irrigation Limited closed a capital raising prospectus on 30 June 2011 with interest in a further 623 litres per second of water.  This brings the total new connections to the scheme to 896 litres per second for the upcomng season with continued interest in further connections.

Mayfield Line Completed

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Approaching Christmas Eve the final BCI Scheme line has been completed and water is being delivered to all customers.  Installation work will continue in the new year to accommodate extensions to the original network.

Trustpower meet contract date

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After signing a contract with the Joint venture BCI Scheme Trustpower Limited had 12 months to install the pumping equipment required to deliver the first three cumecs of water to the RDR for use by BCI customers.  Trustpower Limited met that contract date and delivered the first Rakaia River water on 23 December 2010.  Prior to pump commissioning BCI customers demand has been met by surplus RDR water.