Local media NZ Herald reported the investment would involve 10 orchards being set up in several locations in the Bay of Plenty and Gisborne area, including Matakana Island.
Te Tumu Paeroa, the trust of the country’s indigenous people, announced the 18-month plan to be carried out in partnership with Quayside Holdings.
More than 90 hectares of semi- and unproductive land will be converted into grower businesses with the aiming of improving the long-term benefit of its owners and their community, according to NZ Herald.
Te Tumu Paeroa developed a model allowing full ownership of the orchards to transfer to land owners in an estimated 12 to 17 years, after achieving a targeted rate of return on capital invested.
The story quoted Te Tumu Paeroa chief executive and Maori trustee Jamie Tuuta as saying the program would create a legacy for generations to come.
“A core part of our programme is building the capability of landowners to successfully govern the business when it comes time to transfer ownership to them,” she was quoted as saying.
“We want to see Maori land owners involved in the whole process – developing skills and hands-on experience in running kiwifruit orchards on the ground as well as in the boardroom.”