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What conditions, if any, will require Fletcher Building to repay the $60 million grant if it does not deliver its committed $150 million investment? and 1 other question

Answered 33042, 33043 (2026)
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Asked by

Steve Abel

List MP · Green Party

Questions

  • 33042

    What conditions, if any, will require Fletcher Building to repay the $60 million grant if it does not deliver its committed $150 million investment?

  • 33043

    What conditions, if any, will require Fletcher Building to repay the $60 million grant if it fails to keep the Golden Bay Cement plant operating until at least 2040?

Answered by

Hon Nicola Willis

List MP · National Party · Minister for Economic Growth

Answer

The Funding Agreement with Golden Bay Cement includes several clawback provisions that set out the circumstances when funding can be recovered. These include where funding is misspent, unspent or no longer committed; the investment programme is abandoned, or GBC reduces its investment commitment below $150 million; domestic cement manufacturing ceases before 31 December 2040; employment falls by more than 10% and reasonable mitigation is not demonstrated and regulatory or market changes mean funding support is no longer needed.