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Quick Takes of the Week to March 28

In case you missed it: News bites for the week.

NBR Staff Fri, 28 Mar 2025
Monday March 24
ContainerCo expands footprint at Ruakura Inland Port

Local logistics company ContainerCo – which was established in 2013 – has opened a new 3.3-hectare container depot at the Ruakura Inland Port, replacing its existing 1.3ha site.
The new facility provides a range of container management services, including container surveying, repairs, wash bay, and pre-trip inspections. The depot will increase ContainerCo’s capacity by 4000 20-foot equivalent containers.
“Our Ruakura operation is a key hub in the ‘Golden Triangle’ and, with the growth we’re seeing in the greater Waikato region, we needed to make this move to continue delivering the innovative solutions our customers expect,” ContainerCo chief executive Wayne Johnson said in a statement.
ContainerCo is jointly owned by Kenneth Harris and the local arm of Cosco Shipping Lines. It operates in partnership with the Ruakura Inland Port.
The port is a joint venture between Port of Tauranga and Tainui Group Holdings.


Tuesday March 25
Meridian gives go-ahead for Ruakaka solar farm

Meridan has confirmed it will go ahead with construction of a $227 million solar farm at Ruakākā in Northland.
Contracts for construction, operation and maintenance have been awarded to UK-headquartered renewable energy developer Ethical Power.
Meridian chief executive Neal Barclay said the 130MW project, the company’s first solar farm, was “special”.
“Ruakākā Solar Farm is part of a wave of new builds that are boosting the country’s energy supply,” he said.
“These are busy times for Meridian and many others investing in the generation market, and our collective efforts will enable more electricity use, provide alternatives to thermal fuels and boost the country’s energy security in dry years.”
The farm will have 250,000 solar panels covering about 170ha.

 Cardrona Alpine firms up deal with Chongli District Ice and Snow

Cardrona Scoop.

RealNZ, the owner of Cardrona Alpine Resort, has signed a memorandum of understanding with a former winter Olympic host venue, the Chongli District Ice and Snow Association. Describing it as a "significant step" for the future of New Zealand on the international ski tourism stage, the Queenstown-based company said the agreement will focus on collaboration across talent, product development, marketing initiatives, and industry training. The Chongli region hosted a number of events during the 2022 Winter Olympics in China, while Wanaka's Cardrona will lay claim to the country's largest ski-field this year, with the opening of 150 hectares of new terrain at its Soho basin.

Neither stadium proposal stacks up for Akld Council

An Auckland Council report into the feasibility of two stadium proposals has found neither completely stacks up. It says the proposed revamp of Eden Park is feasible in most respects but is not currently financially feasible as it depends on additional council and/or central government funding. The report found the other contender, Te Tōangaroa/Quay Park, has not demonstrated the feasibility of its proposal and council has a low level of confidence in its deliverability. Auckland Council will consider the next stage at a meeting on Thursday.

Proposed boundary changes for next year’s general election

The Wellington region is set to lose an electorate as part the Representation Commission’s redrawing of electorate boundaries. Under its proposed changes, Ohariu disappears, with Wellington Central expanding into Wadestown, Ngaio, and Khandallah. Rongotai’s boundary also pushes north to gain Mt Cook and Brooklyn, and Hutt South includes part of Newlands. Two new electorates – Kenepuru and Kāpiti – are created from the existing electorates of Ohariu, Mana, and Ōtaki. There are changes in boundaries elsewhere in the North Island but no loss of electorates. The public can object to the proposed boundaries by April 27 and then public hearings will be held in June before the commission presents its final report on August 8.


Wednesday March 26 
Profit grows at Haiers F&P Appliances
Whiteware maker Haier, owner of Fisher & Paykel Appliances, has reported a 23% increase in net profit to $30.5m for the year to December. The increase came from revenue up 8% to $1.62 billion.
Net equity at balance date was $968.2m.
The company said it had signed a property facility with ICBC, Bank of China, China Construction Bank and ANZ in June last year which was expected to become operative by the end of March this year.
F&P Appliances is developing a new global headquarters building in Penrose, designed by RTA Studio, on a site acquired for $47.3m in 2022.
In a LinkedIn post a month ago it said the project was “taking shape” and would open in 2026.

Thursday March 27
Contact to challenge Southland Wind Farm decision
Contact Energy says it will appeal the rejection of its Southland Wind Farm in a resource consent decision issued last week.
In a statement to the NZX, Contact chief executive Mike Fuge said the wind farm was a crucial project to enhance New Zealand’s energy security.
“We have reviewed, in detail, the recent decision by the consenting panel to decline our application,” he said.
“The panel’s decision is flawed, with significant legal errors identified. We will lodge an appeal with the High Court, outlining the specific areas of law where the decision is incorrect.”
The company also said it would re-apply under new fast-track consenting legislation.
Contact’s proposed 330MW, 55-turbine wind farm near Wyndham was declined by an expert panel appointed under the Covid-19 Recovery (Fast-track Consenting) Act, which has since been repealed.

Friday March 28
Wellington Water to face early regulation
The Government is imposing early economic regulation on Wellington Water, amid concerns about its management of water services. The Commerce Commission will begin its role as a monitor for the Wellington region’s water services earlier than other water services under the Local Water Done Well policy. Local Government Minister Simon Watts said that, over the past few months, he had had serious concerns about Wellington’s water services, including recent reports about unsound financial management. “I am not satisfied by the progress made to address these glaring problems and, without clear and decisive action, Wellingtonians face a decade of hefty rate increases with little to show for it,” he said. The Commerce Commission’s disclosure requirements are expected to include indicators that provide a view of value for money, procurement practices, and plans to address shortcomings outlined in published reports.
Ryman’s make-whole fees come in lower than expected
The penalty fee Ryman Healthcare faces for repaying a tranche of its debt early will be lower than first thought.
The NZX-listed retirement village provider announced a $1b equity raise in February to reset its balance sheet, as the company was concerned it might break its debt covenants again.
About $970m from the raise would go towards reducing debt, although this did not include an estimated $35m in fees associated with repaying its $272m ‘institutional term loan’ early.
However, the company told the stock market on Thursday the “make-whole, prepayment fees” associated with repaying the debt would be $22m.
This came after the company reached an agreement with the smaller lenders, which are the participants in the institutional term loan.
Following the capital raise, Ryman’s total debt facilities have been reduced to $2.2b from $3b.
NBR Staff Fri, 28 Mar 2025
Contact the Writer: editor@nbr.co.nz
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Quick Takes of the Week to March 28
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