New Zealand's Lyttelton Port Company (LPC) will invest NZ$821 million (US$487 million) in the development of the Te Awaparahi Bay wharf and container terminal at the Port of Lyttelton.
The project will be funded through a combination of debt, together with equity from Christchurch City Holdings (CCHL).
"CCHL’s investment into the infrastructure in support of South Island businesses, exporters and economic growth will be around NZ$300 million (US$180 million)," said CCHL Chair Bryan Pearson. "The rest of the project will be funded by LPC."
The Te Awaparahi Bay expansion project will deliver a 388-metre deepwater wharf, future berth capacity, and a five-hectare container terminal. The wharf will feature four new ship-to-shore cranes.
LPC said the new terminal will feature semi-automated gantry yard cranes, helping the port handle more containers in less space, improving the speed and reliability of terminal operations, and supporting safer, more efficient container movements.
LPC expects the project to be complete by 2031, by which time the port's annual berth capacity will be around 850,000 TEU, ensuring projected volume over the coming decades can be managed.
