MASSIVE PORT EXPANSION ON HOLD

 

An expansion of the Auckland Harbour has been put on hold after an Auckland Council meeting this week. The Council also instructed the port company to double its dividend from a six per cent rate of return to 12 per cent over five years. It had planned to extend the port 250m into the prized harbour. The Port Development Plan proposed the larger site to cope with increased traffic. The Council has made it clear that they are not putting a permanent end to the expansion. The Whats On Report will follow the project's development on J137748.

Source: New Zealand Herald, 06 March 2012 (AG)

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