3 November 2004

Another step towards ALPURT B2

Transfund New Zealand's Board today announced its decision to approve a $180 million grant towards construction of the State Highway 1 Northern Motorway Extension (ALPURT B2) as a toll road.

The total cost of the toll road is estimated at $320 million. The shortfall of $140 million will be borrowed by Transit New Zealand and partly paid back through toll revenue.

The Transfund Board also approved an ongoing subsidy to Transit to cover the debt not met by tolls. This subsidy is projected to total $85 million and will be spread over 16 years.

Tolling also requires an Order in Council made on the recommendation of the Minister of Transport in accordance with the provisions of the Land Transport Management Act 2003. Cabinet has not yet considered this matter.

The project comprises 7.5 km of new four-lane motorway, extending the Northern Motorway between Silverdale and Puhoi.

Transfund chair Dr Jan Wright says tolling made the project affordable for the National Land Transport Fund.

ENDS

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>