KiwiRail on the hook: ferry termination talks roll on

KiwiRail locked in a build contract for two new Interislander ferries in 2021. (Image: KiwiRail)

Tue, 12 Mar 2024

Experts advising the government on the future of the Interislander ferry service have reportedly highlighted the value of retaining options associated with an existing shipbuilding contract.KiwiRail entered into a $551 million contract with South Korean shipyard Hyundai Mipo Dockyard in 2021 to build two large rail-enabled ferries to replace its ageing and increasingly fault-prone fleet.In December, finance minister Nicola Willis announced the government had rejected a funding bid from the ferry operator that would have seen the budget of the p...

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