Infrastructure Bonds helps Auckland road network

AUCKLAND BUSINESS FORUM
Motorway Network Completion by 2015

1 February 2007

Media Statement

Michael Barnett
Chairman
Auckland Business Forum

Infrastructure Bonds helps Auckland road network completion

The first Infrastructure Bond issue of $50 million announced today is “a long overdue innovative step in the right direction,” said Auckland Business Forum chairman Michael Barnett.

Today’s issue is the first arising from the provision in the 2006 Budget for release of up $1 billion in infrastructure bonds, and will be issued on the same terms and conditions as other Government bonds.

The Forum understands that the revenue to service the bond will be supported by the ALPURT B2 toll soon to commence when the tunnel currently under construction opens on State Highway One north of Orewa.

“This is a good sign that Government is responding positively to the Forum’s call for innovative and sustainable funding mechanisms to be used to help fund timely completion of the region’s long-planned strategic highway network,” said Mr Barnett.

ENDS

© Scoop Media