Channel Infrastructure has welcomed the government's announcement regarding the Marsden Point Energy Precinct, highlighting its role in delivering strategic infrastructure for New Zealand.
The company's chair, James Miller, expressed confidence in the future of Channel Infrastructure, citing the potential for Marsden Point to enhance the country's fuel and energy security.
He also emphasised the importance of a potential special economic zone at Marsden Point, which could facilitate business-friendly regulations and investment support.
The company's chief executive, Rob Buchanan, said the energy precinct could generate significant economic growth and job creation in Northland.
Research by PwC estimated that the development of the precinct projects could result in $3.3 billion in GDP and 20,000 full-time equivalent jobs during the construction phase.
Channel Infrastructure has been operating New Zealand's largest fuel import terminal since the decommissioning of the oil refinery in 2022.
The government’s fuel security study report, which highlighted the need for increased fuel storage, aligns with Channel Infrastructure's strategic position.
The company will present its financial results for the 2024 financial year on Thursday.
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