Investment in rail and water transport

Country / jurisdiction: New Zealand · Year: 2020 · Status: In force · Level: National · Type: Voluntary

Funds of 1.1 billion NZD will be invested in KiwiRail to increase railroad usage, in hope of reducing overall emissions targets and carbon footprint. Details of the project include:

- Future of Rail - Investment to Enable Rail Activities to be Funded Under the Land Transport Management Act ($148.2 million operating total). This initiative provides Crown funding for the National Land Transport Fund (NLTF) to support integration of below rail network investment into the National Land Transport Programme. This initiative will support the NLTF funding ongoing maintenance and renewal of the rail network

- Future of Rail - New Interisland Ferry Assets to Support a Resilient and Reliable Rail Freight System ($400.5 million total capital). This initiative provides funding to replace the aging Interislander ferry assets to provide a secure and resilient, economic and social transport link between the North and South Islands.

- Future of Rail - Rolling Stock Investment to Support a Resilient and Reliable Railway ($421.7 million total capital). This initiative provides funding for long-term investment to replace aging locomotives and upgrade KiwiRail's mechanical maintenance facilities. It also funds the European Train Control System (ETCS) for Auckland, which will provide safer and more reliable services on the Auckland metropolitan rail network. Changes proposed through the Land Transport (Rail) Legislation Bill will also provide long-term certainty for rail by allowing network investment to be channelled through the National Land Transport Fund. $148 million is provided to support the fund to make these investments once the Bill has been passed.

Official source: https://www.beehive.govt.nz/release/budget-lifts-investment-rail-record-46-billion