Port of Tauranga development on track for 2013
Saturday, 25 February 2012 | 00:00
Port of Tauranga is forging ahead with expansion as it prepares to handle more ships and cargo. The port made a record profit of $34.6 million in the six months to the end of December as container volumes rose by more than 17%.
Chief executive Mark Cairns says new shipping services and the dispute at Ports of Auckland helped lift earnings.
He says the wharf extension is expected to be complete by early 2013.
Mr Cairns says the port has begun a $150 million expansion programme over the next few years, starting with a berth extension at Sulphur Point which will lengthen it by another 170 metres.
He says the port is also planning to be able to dredge to cater for the larger vessels that are expected in the medium term.
Mr Cairns says the number of cruise ships for this season will reach 82, up from 56 last season.
The port will pay a dividend of 12 cents per share, up on the 10 cents last year.
Council of Trade Unions president Helen Kelly said Auckland Council should relax its demands that the port company double its returns.
Source: Radio New Zealand
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