Councils shouldn't be running our ports

Councils shouldn't be running our ports
We can learn lessons from Napier Port's mixed ownership model. (Image: Napier Port)
Jonathan Hill
Just over two years ago, Napier Port listed on the New Zealand stock exchange (NZX). The port’s owner, the Hawke’s Bay Regional Council, sold 45% to provide a capital injection, allowing the port to make a $190 million investment in a new 350-metre-long container wharf. The wharf, somewhat miraculously for any major infrastructure project, was finished in July, on time and on budget. The regional council provided Napier Port with $110 million of capital, invested $100 million into a long-term future fund for the region, an...

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