The deadline is fast approaching to demonstrate enough support to take the next step to build a new irrigation scheme for up to 40,000ha in the Waimate and Opuha areas.
The Hunter Downs irrigation scheme, estimated about five years ago to cost about $200 million, would pump up to 20.5 cumecs from the lower Waitaki River and distribute it by canals and pipes to properties from the Waihao to Opuha areas of Waimate and Timaru.
On Friday, the offer of 40,000 partly paid ordinary shares in the scheme's owner, Hunter Downs Irrigation Limited, will close.
In the past three weeks, directors and management have called and met potential investors.
Small group meetings with more than 130 potential shareholders have been held.
Potential investors covered more than 60,000ha of land the scheme could service.
Chairman Andrew Fraser was pleased with the positive feedback.
The minimum amount to raise under the share offer is $4 million, and was not limited to people who owned land within the irrigable area.
No shares would be allotted if the minimum amount was not achieved, so the company was encouraging people to invest now to ensure the scheme would go to the next stage of pre-construction work.
''With water consents in place and feasibility costs being co-funded by Meridian Energy and the Government (through the Irrigation Acceleration Fund, subject to a funding agreement with Ministry for Primary Industries) there has never been a better opportunity to identify whether irrigation is viable in our region,'' Mr Fraser said.
