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

 


EQC two-thirds through home repairs 3 years on from quakes

EQC two-thirds through home repairs three years on from quakes

By Suze Metherell

Jan. 28 (BusinessDesk) – The Earthquake Commission is two-thirds of the way through repairing houses damaged by the 2010 and 2011 Canterbury earthquakes in a contract managed by Fletcher Building.

Some 50,174 repairs have been made in the greater Christchurch region to homes since the establishment of the Canterbury Home Repair Programme in October 2010, Minister Responsible for Earthquake Commission Gerry Brownlee said in a statement.

EQC aims to finish all repairs by the end of the year. As of today, there were about 27,000 houses still needing full repairs, according to the EQC website.

“The end of the scheme is very much in sight,” Brownlee said.

The government scheme is run through the EQC but managed by Fletcher Building, who won the tender to be the sole contractor.

The 2010 and 2011 earthquakes damaged about 180,000 homes in Canterbury. EQC is required to cover the first $100,000 and has responsibility for about 160,000 damaged homes.

It expects to make cash settlements on about half of the claims and manage repairs for the rest, and had paid some $6.75 billion as at Jan. 28 out of an estimated $12 billion.

The Reserve Bank estimates is the full cost of the Canterbury rebuild will be $40 billion.

In November the Auditor General gave the Earthquake Commission a mixed report for managing home repairs after the Canterbury quakes, with a pass mark for managing the programme and controlling costs, and a fail for how it has dealt with homeowners.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news