Waimea Irrigators Limited (WIL) was established in 2016 as the entity to manage rights to access dam water.

We will:

• Raise equity from water users to help construct the dam
• Raise a loan from Crown Irrigation Investments Limited or a commercial bank to help construct, maintain and operate the dam
• Enter into a 'wholesale' water augmentation agreement with Waimea Water (the proposed joint venture company between TDC and WIL), which will enable us to augment water to our shareholders through the release of dam water into the river and groundwater system
• Enter into a water augmentation agreement with each WIL shareholder.

Our three fundamental tenets are that:

1. Waimea Irrigators Limited shareholders will get exclusive and permanent rights to the water they subscribe for (so long as the terms and conditions of the water augmentation agreement are met)
2. The dam will operate on a financial breakeven basis and is not intended to pay dividends
3. Getting the dam built is important for all parties and the cost of alternatives would be unacceptable.