Waikato water assets signed over in milestone moment

Thursday, 12 March 2026

Waikato District Mayor Aksel Bech, left, signs over waters assets to IAWAI chief executive Peter Winder.

The biggest deal in Waikato District Council’s history is done, after councillors unanimously agreed to transfer just under a $1 billion of assets to the new regional water company IAWAI.

On Wednesday, Mayor Aksel Bech and IAWAI chief executive Peter Winder signed documents formalising the transfer of about $832.3m of WDC assets, including property, plant, equipment, water and wastewater systems, as well as $185.8m of “work in progress”.

The council retains stormwater network ownership but may delegate specific service tasks to IAWAI.

The transfer involved about $832.3m of Waikato District Council waters assets.

It is the biggest deal to be done by WDC and the first of its type to be signed under the Government’s Local Water Done Well legislation, which takes funding of water assets away from local council rates bills.

It also marks a major milestone in standing-up IAWAI as a joint council-owned (Hamilton City and Waikato District) entity on July 1.

However, for Waikato District Council, it marks another step in a ten year journey that pre-dates the Government moves, after a bid to unite with Hamilton City Council and Waipā District Council into a joint a regional water entity back in 2014 failed to eventuate.

“So, we are very much in the forefront on this space,’’ Bech said.

Deputy Mayor Eugene Patterson said the signing was “a big piece of the puzzle’’ ahead of IAWAI being stood-up on July 1.

Councillors unanimously agreed to the transfer.

Councillor Peter Thomson said it was “a big deal’’.

“It’s rare you get to find such a win-win situation.’’

The value of the council assets will account for 30% of the final $3 billion equity in IAWAI, once Hamilton City signs its part of the agreement on Thursday.

However, IAWAI chief executive Peter Winder confirmed both councils will have a 50/50 voting share as joint shareholders in the company.

Mr Winders also added the company was well-aware of it responsibilities, environmentally, culturally and financially to the people of the Waikato.

“We fully understand the responsibility that comes with the transfer of water to IAWAI and the need to work in partnership with the councils and to earn and maintain their trust and confidence, and that needs to be reflected in everything that we do.

‘’That is our common goal.’’