Interislander project faces 'funding shortfall'

KiwiRail is facing an increase in cost to deliver its preferred option for the Interislander replacement project. (Image: KiwiRail)

Oliver Lewis

Wed, 04 Oct 2023

KiwiRail says there's a funding shortfall for the Interislander replacement project, but the government has given it options to ensure work can continue.The state-owned rail and ferry operator previously costed the project, called iReX, at $1.45 billion, but as BusinessDesk has reported, the cost of new terminals at Wellington and Picton is understood to have increased significantly.KiwiRail carried out an in-depth review of the project this year, including value engineering (or cost-cutting) options, and has previously said it wa...

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