Economy

Budget 2019: Rail projects score $1.6B of new capital

Pattrick Smellie
Thu, 30 May 2019

By Pattrick Smellie May 30 (BusinessDesk) - The national rail carrier, KiwiRail, and Auckland’s Central Rail Loop projects receive capital boosts totalling $1.58 billion in this year’s Budget and there will be more to come. Of that, $405.5 million is to meet rocketing costs for the CRL project, with another $134 million to build longer platforms after initial projections of demand for urban passenger rail services was judged to be under-estimated. KiwiRail scores the remainder, with $741 million coming from a new capital allocation fro...

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