Christchurch council wants $47m more from its trading companies

Christchurch council wants $47m more from its trading companies
Expansion plans at Lyttelton Port Company could be impacted by a council request for additional dividends. (Image: Supplied)
Oliver Lewis
To mitigate rates rises and fund services, Christchurch City Council will be asking its commercial arm to frontload dividend payments and provide $47 million extra over the next three years.The move, endorsed by councillors at a meeting on Wednesday, drew a forthright warning from Christchurch City Holdings (CCHL), which controls assets worth more than $5 billion on behalf of the council.CCHL chair Abby Foote – who has repeatedly spelled out the constrained financial position of the group and the need to start paying down its $2.3b of deb...

More Infrastructure

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024