Thursday 24th October 2019 |
Text too small? |
SkyCity Entertainment says it will reopen parts of its Auckland precinct later today as it takes a phased approach to resuming normal business after fire devastated the construction site of its new convention centre.
"Fire and emergency services teams will remain on site until such time as the fire is successfully extinguished and the site can be handed back to Fletcher Construction," Sky says in a statement.
Fletcher is the lead construction contractor on the convention centre and the adjacent Horizon Hotel.
The fire broke out in the bitumen roof of the convention centre at about 1pm on Tuesday.
SkyCity says once the extent of the damage is known, it and Fletcher will be able to determine the impact on how long it will take to complete the project "to the standard agreed with the New Zealand government."
The project was supposed to have been completed by the first quarter of this year but, until the fire, that had been pushed out into the second half of 2020 and SkyCity has withheld $39.5 million in liquidated damages. Fletcher's liability for liquidated damages on the project is believed to be capped at about $40 million.
SkyCity shares were recently unchanged at $3.85 and Fletcher shares were down 0.4 percent at $4.69.
(BusinessDesk)
No comments yet
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update