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

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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