Regeneration for CentrePort
A NZ$63m provision to “invest in resilience” has been announced by CentrePort Wellington as it continues its recovery from the significant damage suffered in last November’s Kaikoura earthquake.
The business recently declared its 2005-built Statistics House will need to be demolished as insurers have decided “the building is not economically viable to repair”. This follows four other wharfside buildings being condemned, with discussions continuing on the fate of the 2009-built BNZ building.
Regular container business has only recently resumed at the port after significant repair works.
CentrePort chief executive Derek Nind says the business has decided to account for the impact of the earthquake “sooner rather than later”.
“Our financial statements show us facing up to the damage we’ve sustained and investing to build our resilience in the future,” he says.
“We’re also seeing the benefits of being well insured and expect these benefits to continue.
“We’re now focused on completing temporary recovery works and formulating plans for the long-term regeneration of the port.”
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