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

 


Lyttelton Port details plans to expand to the east

Lyttelton Port details plans to expand to the east

By Pam Graham

June 26 (BusinessDesk) - Lyttelton Port of Christchurch has disclosed a $1 billion development plan as rival Port of Tauranga signs one of the country’s biggest logistics groups up to its terminal in Timaru.

Lyttelton wants to reclaim land to the east for a new container terminal. The public will have better access to the western side of the port where a new marina, a commercial development that compliments the Lyttelton township and seating is planned.

The reclamation into Te Awaparahi Bay could be as large as 35 hectares.

The majority council-owned port wants the ability to handle larger ships and it is also rebuilding after the Christchurch earthquakes.

“We simply don’t have enough room and the only logical solution is moving east,” chief executive Peter Davie said.

He had no initial comment on a deal announced today between Maersk, Port of Tauranga and logistics company Kotahi which puts significant amounts of freight through Timaru. Kotahi is led by Fonterra Cooperative Group and meat company Silver Fern Farms.

Last week Canterbury Earthquake Recovery Minister Gerry Brownlee said he is using the powers of the Canterbury Earthquake Recovery Act 2011 to allow for timelier redevelopment of the badly damaged Lyttelton Port.

He directed Environment Canterbury and Lyttelton Port Company to prepare a Lyttelton Port Recovery Plan.

“There have been no decisions made on how the port should be redeveloped, but I have determined that a Recovery Plan is the best tool for timely redevelopment to be achieved,” Brownlee said. “A Recovery Plan allows for a streamlined process and will see redevelopment occur in a timelier manner than under the Resource Management Act.”

The port has reached 5.5 hectares on its existing reclamation project and has consent for 10ha being filled with earthquake rubble in the next two years, and may need a further 20ha.

The port has been handling increasing container volumes since the earthquake, particularly as dairy exports from the Canterbury region rise.

The shares last traded at $3.15, having gained 4.7 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news