Budget 2019 has delivered on New Zealand First’s commitment to make a significant investment in regional rail. We have secured a $1.042 billion major infrastructure investment in KiwiRail, to connect regional New Zealand, to unleash regional economic potential, and to help achieve environmental outcomes by getting more trucks off our clogged roads.
“KiwiRail is essential for economic growth throughout New Zealand, achieving stronger connections for freight and people, and climate change,” says New Zealand First Leader Rt Hon Winston Peters. $300 million from the Provincial Growth Fund is earmarked specifically for regional rail initiatives which will allow for greater rail growth and supporting economic development and greater connections in our regions.
This funding will go towards legacy issues such as much needed investment in existing tracks, signals, bridges, tunnels and maintenance facilities to ensure rail is reliable and resilient, replacing the 40 to 50 year old South Island locomotives and 900 ageing container wagons and procuring new, rail enabled ferries that will replace Interislander’s aging ferries.