IAWAI to be one of NZ’s biggest companies

Thursday, 12 March 2026

Waikato District Mayor Aksel Bech, IAWAI board chairperson Kevin Lavery, IAWAI chief executive Peter Winder and Hamilton City Mayor Tim Macindoe celebrate both councils agreeing to transfer water assets to IAWAI.

A new Waikato water company will be “larger by value, than Port of Auckland and KiwiRail”, the boss says.

IAWAI will become one of New Zealand’s largest companies, with Hamilton and Waikato District both signing over assets.

Hamilton City Council confirmed the transfer of its water assets to IAWAI on Thursday, meaning it will join Waikato District Council in creating a $3 billion water company to operate and manage all drinking and waste water in both territories.

“To give you a sense of the scale of that, it's not just big for Hamilton,” IAWAI chief executive Peter Winder said.

“On July 1, IAWAI will be a larger undertaking than Wellington International Airport Limited. It will have been larger by value, than Port of Auckland and KiwiRail.’’

Waters assets from Waikato District Council and Hamilton City Council will be handed over to the new organisation.

The company will be stood up, as per the Government’s Local Water Done Well legislation, on July 1.

Winder said with that came a lot of responsibility.

“Water and wastewater are fundamental to life and to the health and vitality of the awa, the moana and our communities IAWAI understands the need to serve the community, and we understand that we will only be successful if we can earn and maintain your trust and confidence.”

Hamilton City Mayor Tim Macindoe also recognised the historic nature of the decision.

“We are taking the decisive, final step towards a new era of water management,” he said. “It's one that finally will confront decades of under-investment deliver the scale of water investment that our communities urgently need, while protecting the Waikato River and ensuring that households will face lower water costs than they would do if councils continue to operate alone in this area.”

Waikato District Mayor Aksel Bech says both councils’ unanimous agreements signalled their commitment to IAWAI.

“It marks the beginning of a new era for how drinking water and wastewater services will be delivered in the region, and the benefits that working together will bring to the communities we serve.”