Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Cost of Getting Auckland Going Rocketing Skyward

Cost of Getting Auckland Going Rocketing Skyward

The $65 million rise in construction costs for the motorway extension to Puhoi revealed today is a drop in the ocean against the $400 million escalation of costs to Auckland’s major roading projects since August.

Transit New Zealand has eight buildable projects in Auckland which last August were costed at $996 million, the cost of which have jumped to $1.13 billion They include:

Mt Roskill extension of SH20, costed in August at $144 million and currently up to $167 million; Manukau connection between SH 20 and SH1, costed in August at $152 million and now up to $174 million; North Shore busway, set to cost $155 million in August and now quoted at $180 million.

Delays on these projects include requests for Transit New Zealand to slow down the tender process because sub-contractors are overworked on other projects, noted Michael Barnett, Auckland Chamber of Commerce CEO. A ninth project facing major delay while politicians and officials decide which option to follow is the Harbour Bridge to City (HB2C), where a tunnel is now preferred over widening Victoria Park Viaduct. In August, HB2C was costed at $160 million. Transits latest estimate has the project cost of a tunnel at between $200 million and $280.

In August, Transit costed the Avondale extension on SH20 at $850 million. Latest estimates put the project at well over $1 billion.

“This is tax payer money we are talking about – the message to Government and the Boards of Transit New Zealand and Transfund, who allocate the money, is – pull finger. Get on with it; more delay is unacceptable,” said Mr Barnett.

For more information contact Michael Barnett, Ph: (09) 309 6100 or 021 631 150.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news