KiwiRail selling gear for cancelled Interislander replacement project, iReX

KiwiRail is looking to sell gear meant for its Interislander project in Wellington and Picton. (Image: Port Marlborough)

Oliver Lewis

Fri, 22 Mar 2024

KiwiRail is holding an everything-must-go-type sale for miscellaneous construction goods and materials intended for its cancelled Interislander replacement project.The state-owned ferry operator wrote off $382 million in costs associated with the project, called iReX, in its latest accounts and provisioned a further $60m to wind it down by the end of March.This doesn’t include the cost to exit contracts with South Korean shipyard Hyundai Mipo Dockyard, which KiwiRail has a $551m agreement with to procure two new rail-enabled ferries.The i...

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