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


Project Pipeline Major Milestone for Canterbury

Project Pipeline Major Milestone for Canterbury

14 May 2014

“The Public Sector Rebuild – Programme of Work released today is a major step forward in Canterbury,” says Stephen Selwood of the New Zealand Council for Infrastructure Development.

“The Programme of work sets out estimated project costs, timing, sequencing and responsibilities across not just CERA and the city council, but all large public sector service providers in the region.

“It displays graphically and concisely the quantum of investment needed in the region and will give a big lift to industry and property owners unclear until now about the forward work pipeline.

“The Programme shows public construction work building steadily over the next year, to peak around $500m per quarter in late 2015. The fairly rapid decline in activity from late 2016 may be alleviated by deferral of some projects, especially if Christchurch City is forced to moderate some of its earlier aspirations, but sends a clear signal to the market about how they need to manage resources.

“With $7-8 billion of projects identified above and beyond the SCIRT infrastructure rebuild, the scale of just the public sector’s commitment to the recovery will reignite some of the interest lost over recent months across New Zealand and internationally. Prior to today’s release, poor transparency and unclear public prioritisation have inflated risk profiles beyond perceived return potential resulting in a less positive market response.

“Critical now will be confirming funding, particularly for Christchurch City Council’s share, and identifying procurement options.

“Capital requirements across the region are beyond anything seen outside of Auckland, and will have to compete with our biggest and fastest growing region for limited domestic resources.

“Large investors essential to sustaining progress over the long term need clear indication of financial opportunities and timing, something that will be keenly awaited.

“If the Council is unable to fully fund its share of the rebuild, opportunities for private capital investment in anchor projects and / or reallocation of public capital through asset sales should be carefully considered as an alternative.

"Swapping one asset for another may enable better use of limited public resources," Selwood says.

The link to the programme is available here:


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news