Port Marlborough has signed an interim development agreement (IDA) to progress the next phase of the Waitohi Ferry Redevelopment Project, a key infrastructure upgrade aimed at improving ferry reliability between the North and South Islands.
The agreement with Ferry Holdings Limited enables transition works to begin while setting up the commercial, governance and management framework required to move the project toward full delivery, subject to shareholder approval in June.
Port Marlborough chief executive Rhys Welbourn says the agreement is designed to allow progress while maintaining oversight.
“This agreement doesn’t make the final decisions – it enables the next ones,” Welbourn says.
“The IDA allows transition works to begin, while creating the structure needed to properly progress the next stage of the project. That includes consulting with the community and our shareholder, and working through the approvals required before any final commitment is made to the main construction programme.”
The interim agreement provides a pathway for work on a transition berth and allows consultation with the community and shareholder ahead of any final investment decision.
Ferry Holdings chair Chris Mackenzie says the staged approach supports responsible delivery.
“The IDA reflects a disciplined, staged approach to delivery. It allows essential transition works to move ahead while putting in place the commercial and governance framework needed to support informed decision-making,” Mackenzie says.
“This agreement creates the space for local consultation and careful consideration ahead of any final investment decision, ensuring the project continues to be progressed responsibly, transparently and in the long-term interests of the ferry network and the communities it serves.”
The Waitohi Ferry Redevelopment Project is described as a nationally significant investment that will support freight movements, tourism and regional supply chains, while strengthening connections across Cook Strait and securing Waitohi Picton’s role in New Zealand’s transport network.
