Contractors hail Super Fund’s local support

Media Release – for immediate release
24 July 2009

Contractors hail Super Fund’s support for local infrastructure funding

News that the New Zealand Superannuation Fund will put up to $100million into a new infrastructure fund that aims to provide cash for Schools, social housing and prisons has been praised by the New Zealand Contractors’ Federation.

NZCF Chief Executive Jeremy Sole said the move could be a significant boost for the contracting sector by allowing major projects to be fast tracked.

“Everyone acknowledges that investing in infrastructure is going to help New Zealand recover from the current downturn while providing long-term benefits to the country as a whole. This announcement is to be applauded,” Mr Sole said.

The $500m Public Infrastructure Partnership fund, by Wellington’s Morrison & CO., will be the first New Zealand fund dedicated to investing alongside local, regional and central government.

It follows a format that is already widely used overseas, including Britain.

ENDS

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