Fletcher provides NZICC updates, hands over Horizon Hotel to SkyCity

The Horizon Hotel next to SkyCity on Nelson Street. (Image: Jason Oxenham)

Mon, 01 Jul 2024

Fletcher Building has settled remaining contract works insurance claims with the New Zealand International Convention Centre project insurers.Also known as builders' insurance, contract works insurance (CWI) covers construction that is underway.In February, Fletcher determined the additional provision of $165 million for the NZ International Convention Centre (NZICC), some of which was related to “challenges in securing remaining CWI revenue” and the “risk of non-recovery".“The CWI settlement proceeds...

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