Napier wharf cost increase reinforces case for IPO - council

Wed, 10 Apr 2019

By Gavin Evans April 10 (BusinessDesk) - Hawke’s Bay Regional Council says an increased cost estimate for a new wharf at Napier Port reinforces its decision to seek outside capital for the business. The port, wholly-owned by the council, has approved the business case for the wharf extension which is now expected to cost $170-$190 million. That is up from the $142 million expected last year. Council chair Rex Graham says the new figure reflects further design work since then. The business case has been tested against detailed trade and...

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