Sharechat Logo

Palmerston North rail project still on track

By Phil Boeyen, ShareChat Business News Editor

Wednesday 18th July 2001

Text too small?
Ports of Auckland (NZSE: POA) and Tranz Rail (NZSE: TRH) have rebuffed media speculation that their inland port venture in Palmerston North won't go ahead.

The two companies say they are still committed to the agreement reached earlier this year to establish a Ports of Auckland-run container operation in the lower North Island city.

Tranz Rail CEO, Michael Beard, and Ports of Auckland CEO, Geoff Vazey, says it is taking longer than expected to finalise some details of the arrangement but the two companies are working closely to resolve the issues.

"Tranz Rail and Ports of Auckland have a common strategic direction in terms of the optimum model for container freight in New Zealand.

"This is driving the sense and purpose of this project. We both see Palmerston North as a key location in the transport and container freight logistics chain."

The two companies say there has been strong support in Palmerston North for the initiative.

Initial plans outlined running at least one dedicated daily return service between Palmerston North and Ports of Auckland, with POA investing up to $5 million in the project and owning its own rolling stock.

Tranz Rail would operate the service under contract.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Daily ShareChat: Toll Holdings
Government study targets ports
Palmerston North 'inland port' on hold
Special Report: Ports of Call

IRG See IRG research reports