BAY OF PLENTY BEACON Published Mondays, Wednesdays and Fridays. WEDNESDAY, OCT. 11, 1950 MURUPARA PROJECT

Bay of Plenty Beacon, Volume 16, Issue 6, 11 October 1950, Page 4

BAY OF PLENTY BEACON Published Mondays, Wednesdays and Fridays. WEDNESDAY, OCT. 11, 1950 MURUPARA PROJECT

The people of Murupara and, to a lesser degree, of most of New Zealand, will be wondering what significance can be attached to the statements made by Mr Sullivan on Saturday that the pulp and paper mill project had been "approved in principle" and would be gone on with at "the earliest possible date."

I Virtually, Mr Sullivan said nothing at all except that he did indicate the government's policy of interesting overseas companies in projects of such magnitude. His other statements indicate only that, on such an occasion as the opening of a telephone exchange he thought • he ought to make some mention of the project. The present Government is rightly not committing itself to big expenditure. Certainly the State cannot on its own afford an investment of twelve and a half million pounds for such a project at present. Certainly, also, private capital of such an amount could not be found in New Zealand. Even to overseas j investors, it would be a big amount.

Perhaps Mr Sullivan was trying to say that, if overseas investors weren't interested, there would be no project.