KiwiRail mothballs Napier-to-Gisborne line; govt to spend $4M on road upgrade

Tue, 02 Oct 2012

By Paul McBeth Oct. 2 (BusinessDesk) - State-owned railway KiwiRail has decided to mothball the loss-making Napier-to-Gisborne line, saying the $4 million cost to reopen the track isn't worth forecast maintenance costs, which are set to rise to $6 million a year. The railway operator decided against closing the 212 kilometre line completely, as the rail assets have a 10-year lifespan and may be worth reopening if circumstances change in the future, chief executive Jim Quinn said in a statement. Mothballing will cost the state-owned enterpris...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Quiz FREE
QuiznessDesk, Thursday, June 30, 2022
The Quizmaster | Thu, 30 Jun 2022

Don't forget to give our daily quiz a go. Good luck!

Discovery NZ slumps to $34m loss in 2021
Daniel Dunkley | Thu, 30 Jun 2022

The broadcaster, part of US giant Warner Bros. Discovery, recorded the heavy loss after racking up a larger wage bill.

BusinessDesk owner NZME hits 100,000 digital subscriptions
Oliver Lewis | Thu, 30 Jun 2022

The owner of BusinessDesk has hit a new high, with even more customers choosing to subscribe.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.