Doomed Interislander project cost $424m and counting

KiwiRail chair David McLean said the board was horrified when it learned the updated costs of the iReX project. (Image: Supplied)

Oliver Lewis

Thu, 15 Feb 2024

KiwiRail has spent at least $424 million on the doomed Interislander replacement project, not counting break fees from exiting a ship-build contract.The chief financial officer at the state-owned ferry and rail operator disclosed the figure, which is valid up to Dec 31 2023 and includes ship and terminal design costs as well as project management fees, at a meeting of the transport and infrastructure select committee on Thursday.KiwiRail appeared before the select committee a day after it announced it was terminating a $551m contract with South...

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