The Finance Minister says there is already interest in one of the Public Private Partnerships on offer at the Government’s Infrastructure Investment Summit.
Representatives of more than 100 companies from 15 countries have gathered in Auckland for the summit, between them controlling $6 trillion in assets and funds.
One of the projects the government had already confirmed attendees would be invited to register their interest in was the 26km Warkworth to Te Hana section of the Northern Expressway, which will include an 850 metre twin-bore tunnel.
1News business correspondent Katie Bradford reports from the first day of the Infrastructure Investment Summit. (Source: 1News)
Nicola Willis said there had already been a lot of talk about the road at the summit and she understood multiple bids would be submitted.
“What it tells you is, one, that we have put together a project that people can see as investable and viable. But two, what it means is we get a better deal for the taxpayer, because you want competitive bids so that we can actually see really what our options are,” she said.
Guido Cacciaguerra from Italian contracting firm Webuild confirmed he would be bidding.
“It’s the first PPP, of course, which is very important because if the government gets this right, it’s the most powerful marketing tool to attract more investors in the future,” he said.
The morning’s speeches all had a common theme in trying to convince investors New Zealand was a safe and secure place to invest, in an increasingly volatile world.
Prime Minister Christopher Luxon told investors New Zealand was a “safe haven” which played by the rules and stood by its values.
1News Māori affairs correspondent Te Aniwa Hurihanganui reports from the summit. (Source: 1News)
“New Zealand has been and will continue to be, a poster child for social and political stability in a more volatile and changing world. That reputation is long standing, but in challenging times, it has come into much sharper focus,” Luxon said.
Willis told media that despite Parliamentary complexities, investors valued New Zealand’s certainty, consistency, and predictability.
“They see that we are well positioned, and that when they invest their money here, they can rely that rugs aren’t going to be pulled out from underneath them.”
Regional Development Minister Shane Jones, who is due to speak on Friday with his Resources hat on, confirmed the government was seeking investors for the Marsden Point dry dock.
Progressing a business case for the project was part of National and New Zealand First’s coalition agreement. It was expected to cost $350 million to $450 million.
During Luxon’s speech, dozens of protesters gathered outside the summit banging pots and holding out anti-privatisation banners.
Grace Newton, from not-for-profit campaigns platform ActionStation, said the summit was a privatisation expo, which would not benefit New Zealanders.
“Each instance of privatisation we’ve seen of public services or state assets or infrastructure, has left the public losing out, it’s sent our collective resources into the pockets of a few corporations and asset managers, like the ones in that room here today, so we’re here to say we’re sick of being ripped off,” Newton said.
Willis was not perturbed by the protests.
“This is not about fewer assets. This is about more assets, and how we deliver that at pace,” she said.
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