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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news