An American educational institution is expanding its already sizeable dairy farm ownership in New Zealand.
The Overseas Investment Office has cleared Dairy Farms Partnership, an investment company owned by Harvard University, to buy another farm in Otago's Maniototo district.
It's buying a 1300 hectare farm at Puketoi Runs Road, to run in conjunction with two other nearby dairy farms it already owns.
The OIO has also confirmed approval for two Chinese ventures to build infant formula plants in New Zealand.
Yashili dairy company and other investors will spend more than $200 million on a milk processing plant at Pokeno in northern Waikato.
China's leading dairy products manufacturer, Yili, of Inner Mongolia, will spend a similar amount on a new plant at Morven in South Canterbury.
