KiwiRail cancels $551m Korean rail ferry contract

KiwiRail is negotiating a termination agreement for two new rail-enabled ferries. (Image: KiwiRail)

Wed, 14 Feb 2024

KiwiRail is cancelling a $551 million contract with a Korean shipyard to build two new rail-enabled ferries for the Interislander service.The Korea Herald reported on Tuesday that the shipyard, Hyundai Mipo Dockyard, had received notice from KiwiRail that it was cancelling the build contract. Negotiations would now take place to settle any claims.In a statement on Wednesday, the chief executive of the state-owned rail and ferry operator, Peter Reidy, said KiwiRail had started discussions with the shipyard to enter a termination agreement. ...

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