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Central Plains Water Ltd has repaid its loans from the Selwyn District Council.
The Central Plains water scheme concept emerged from a joint study commissioned by the Selwyn District Council and the Christchurch City Council in 2000.
The Selwyn District Council provided $5.84 million in loans to the scheme and those loans have now been repaid with interest of $1.21 million.
Selwyn Mayor Kelvin Coe said the council approved the loans because the scheme would provide a significant boost to the Selwyn economy. .
''The scheme will also help to relieve the pressure on the demand for groundwater for irrigation in Selwyn, thus improving flows in lowland streams,'' he said.