Fletcher convention centre costs blow out another $150m

CEO Ross Taylor is "disappointed" by the further provisions. (Image: Fletcher Building)

Fri, 16 Dec 2022

Fletcher Building said it has had to add another $150 million to its provisions for the cost of building the New Zealand International Convention Centre (NZICC) and the associated hotel in Auckland.“Despite good progress on the site, the complexity of the rebuild means costs are now expected to exceed insurance proceeds on NZICC. This has resulted in an additional $150m provision for costs to complete the project,” Fletcher said in a statement.“It is disappointing we require further provisions which are the result of the signi...

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