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Reports in a farming newspaper this week about Tarras Water Ltd finally giving up on its irrigation plan were not quite correct, company chairman Pete Jolly says.
''We certainly haven't given up on water,'' he said yesterday.
While the scheme, designed to irrigate 5999ha, may not go ahead on the intended scale, the company was ''assessing options'' and ''working through issues''.
The company had spent about $2 million in the last six years. The Government funded about half that and about $400,000 was raised from shareholders but the remainder was still owing, Mr Jolly said.
The company's bid for Otago Regional Council buy-in was turned down in June.
The Central Otago District Council had agreed to guarantee 20% of a bank loan to cover the remaining funds but that was conditional on regional council support.