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

 


Clifford Bay business case ripe for more investigation

Clifford Bay business case ‘strong enough’ for further investigation, Brownlee says

Nov. 1 (BusinessDesk) - The government is assembling a team led by Treasury and transport officials to further investigate building a $422 million inter-island road and rail freight port at Clifford Bay, says Transport Minister Gerry Brownlee.

“Cabinet believes the business case we’ve been presented is strong enough to justify further testing the viability of this major change to New Zealand’s transport infrastructure,” Brownlee said in a statement.

The announcement came as the government released the fourth of six progress reports under its Business Growth Agenda, called Building Infrastructure, which totes up spending on projects ranging from the $5.5 billion Canterbury Earthquake Recovery Fund to the $5 billion upgrade of the national grid.

Moving to Clifford Bay from the existing wharves at Picton could lead to larger ships plying the route, while cutting the journey time between Wellington and Christchurch by 80 minutes by ferry/road and 110 minutes by ferry/rail. The government is considering making the project a private/public partnership, with companies including Infratil expressing interest.

Other potential benefits would be lower fuel costs, reduced carbon emissions and smaller maintenance costs for rail and ferries, Brownlee said.

The announcement will be a relief for stakeholders including Port Marlborough, the district council and Wellington’s CentrePort, who have felt out of the loop on the government’s deliberations.

“I have discussed today’s news with some key stakeholders, including the Marlborough District Council, Port Marlborough, Strait Shipping, CentrePort and KiwiRail’s Interislander to inform them of our decision to proceed to the next stage,” Brownlee said.

“They understand that this decision could potentially rewrite the transport map for the country and the government is prepared to take the time required to make the right decision for New Zealand,” he said.

The review team will include government officials and private sector experts with a deadline of reporting back to the government by the end of April 2013. No details of the business case were released, with Brownlee saying the report was commercially sensitive and would affect ongoing negotiations.

The Building Infrastructure report sets out 67 initiatives to help build a more competitive economy, Finance Minister Bill English said. Future reports in the series will focus on natural resources and capital markets.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news