INVESTMENT SUMMIT: Waitematā Harbour Crossing

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Source: New Zealand Government

The Government has laid out next steps in New Zealand’s road toward building another crossing for Waitematā Harbour.
“The existing Auckland Harbour Bridge is one of the most critical transport links in New Zealand, carrying around 184,000 vehicles including 12,000 freight vehicles and 35,000 bus passengers daily, plus water and gas pipelines and telecommunications tables. It is the most-travelled piece of road in New Zealand.
“But the bridge is old, and even with its clip-on lanes it struggles to cope with the daily traffic volumes it carries let alone the projected future growth. Within the coming decade, parts of the bridge will need to be closed for significant periods of time to complete resilience works – significantly disrupting the economy. And with an aging piece of infrastructure, these disruptions are expected to get worse.  
“Advancing an additional harbour crossing is a priority for this Government.
“It will be one of the most significant transport investments in New Zealand in decades, with the potential to significantly grow our economy and create thousands of jobs and opportunities for New Zealanders.
“We know that it will be one of the most complex infrastructure projects New Zealand has ever undertaken. Despite the complexity and cost, we know we need it and we’re progressing work at pace. 
“So over the next 12 months, starting in the coming days, we’ll undertake geotechnical, environmental, and utilities investigations to gain a comprehensive understanding of ground and seabed conditions and, in time, to determine whether a bridge or a tunnel would be the more suitable crossing option. 
“We expect to make decisions on whether a bridge or a tunnel is the preferred option around the middle of next year. 
“As a multi-billion-dollar, intergenerational mega-project, it’s critical that we look for innovative ways to finance and deliver it. We also need to draw on the experience of companies and countries who’ve built mega-projects like this more recently than we have in New Zealand – because, let’s be honest, because we haven’t done anything at this level of complexity or cost in a long time.
“The next step in our cabinet-agreed process will be kicking off next month, with NZTA commencing early market soundings to explore staging opportunities as the two options – bridge or tunnel – are refined for assessment.
“These early market soundings will involve one-on-one engagement sessions with a select group of civil contractors, maintenance providers, investors and debt financiers to seek feedback on design elements and approach to delivery, as well as market appetite and capacity. 
“NZTA will also test interest from local and international industry leaders on funding, financing and procurement options to help determine the best procurement and funding model for the project, ensuring it is delivered in a way that maximises value for money and minimises risk.
“Auckland, and indeed all of New Zealand, needs this project. And after decades of discussion, we are finally ready to put a stake in the ground: we are committed to building it, and expect to announce a preferred option mid-2026.”

MIL OSI

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