Latest news with #PeterReidy
Scoop
20-05-2025
- Business
- Scoop
Budget 2025 Continues Solid Investment In Rail
Press Release – KiwiRail KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. A $600 million investment in Budget 2025 continues strong backing for New Zealand's rail network as a key part of New Zealand's transport system and to support the Government's economic growth strategy, KiwiRail Chief Executive Peter Reidy says. 'KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. 'This significant investment will continue to enable KiwiRail to grow through the delivery of efficient, reliable freight services for export, import, and domestic freight customers, and help deliver reliable journeys for commuters in Auckland and Wellington. 'The Budget commitment, combined with KiwiRail's focus on improving productivity and asset utilisation, is key to a sustainable rail network for the future.' Mr Reidy says the $461 million funding commitment means the three-year Rail Network Investment Programme 2024-27 is funded so KiwiRail can efficiently look after the national rail network. 'This provides certainty for us to plan and effectively manage our work programme. It also provides certainty for our freight customers who rely on rail as a lower-carbon choice for moving all types of freight. 'In recent years, we have focussed on raising the standard of the national rail network for more reliable freight services to get our customers' goods to market. Rail carries 25 per cent of exports and upgrading our rail lines will contribute to the Government's goal of growing New Zealand's export economy. 'KiwiRail did not seek Budget funding for our commercial freight business, as new locomotives and wagons are arriving in the next few years to replace much of our aging fleet, thanks to previous shareholder investment to boost our ability to serve the market.' Mr Reidy says the $143.6 million for the metros means KiwiRail will continue addressing overdue rail infrastructure renewals in Auckland and Wellington to 2027, overcoming historic underinvestment in both cities where maintenance funding has not kept pace with the increased wear and tear as metro patronage has grown. 'We will continue replacing aging infrastructure that results in track faults, which can delay or cancel passenger trains. Work will include replacing end-of-life turnouts (which allow trains to switch between tracks), worn sleepers and rail and improving track foundations. Work will also be done on improving drainage in the rail corridor, and in Wellington there will be additional slope and coastal protection, to improve resilience so that people who take the train will be less affected by weather events. 'While we have made good progress in recent years, there is still a lot of work to do to get the metro networks up to standard. This Budget 2025 investment will help deliver more reliable trains for the people of Auckland and Wellington and set the stage for more frequent trains to come.'
Scoop
19-05-2025
- Business
- Scoop
Budget 2025 Continues Solid Investment In Rail
Press Release – KiwiRail A $600 million investment in Budget 2025 continues strong backing for New Zealand's rail network as a key part of New Zealand's transport system and to support the Government's economic growth strategy, KiwiRail Chief Executive Peter Reidy says. 'KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. 'This significant investment will continue to enable KiwiRail to grow through the delivery of efficient, reliable freight services for export, import, and domestic freight customers, and help deliver reliable journeys for commuters in Auckland and Wellington. 'The Budget commitment, combined with KiwiRail's focus on improving productivity and asset utilisation, is key to a sustainable rail network for the future.' Mr Reidy says the $461 million funding commitment means the three-year Rail Network Investment Programme 2024-27 is funded so KiwiRail can efficiently look after the national rail network. 'This provides certainty for us to plan and effectively manage our work programme. It also provides certainty for our freight customers who rely on rail as a lower-carbon choice for moving all types of freight. 'In recent years, we have focussed on raising the standard of the national rail network for more reliable freight services to get our customers' goods to market. Rail carries 25 per cent of exports and upgrading our rail lines will contribute to the Government's goal of growing New Zealand's export economy. 'KiwiRail did not seek Budget funding for our commercial freight business, as new locomotives and wagons are arriving in the next few years to replace much of our aging fleet, thanks to previous shareholder investment to boost our ability to serve the market.' Mr Reidy says the $143.6 million for the metros means KiwiRail will continue addressing overdue rail infrastructure renewals in Auckland and Wellington to 2027, overcoming historic underinvestment in both cities where maintenance funding has not kept pace with the increased wear and tear as metro patronage has grown. 'We will continue replacing aging infrastructure that results in track faults, which can delay or cancel passenger trains. Work will include replacing end-of-life turnouts (which allow trains to switch between tracks), worn sleepers and rail and improving track foundations. Work will also be done on improving drainage in the rail corridor, and in Wellington there will be additional slope and coastal protection, to improve resilience so that people who take the train will be less affected by weather events. 'While we have made good progress in recent years, there is still a lot of work to do to get the metro networks up to standard. This Budget 2025 investment will help deliver more reliable trains for the people of Auckland and Wellington and set the stage for more frequent trains to come.'
Scoop
19-05-2025
- Business
- Scoop
Budget 2025 Continues Solid Investment In Rail
Press Release – KiwiRail KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. A $600 million investment in Budget 2025 continues strong backing for New Zealand's rail network as a key part of New Zealand's transport system and to support the Government's economic growth strategy, KiwiRail Chief Executive Peter Reidy says. 'KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. 'This significant investment will continue to enable KiwiRail to grow through the delivery of efficient, reliable freight services for export, import, and domestic freight customers, and help deliver reliable journeys for commuters in Auckland and Wellington. 'The Budget commitment, combined with KiwiRail's focus on improving productivity and asset utilisation, is key to a sustainable rail network for the future.' Mr Reidy says the $461 million funding commitment means the three-year Rail Network Investment Programme 2024-27 is funded so KiwiRail can efficiently look after the national rail network. 'This provides certainty for us to plan and effectively manage our work programme. It also provides certainty for our freight customers who rely on rail as a lower-carbon choice for moving all types of freight. 'In recent years, we have focussed on raising the standard of the national rail network for more reliable freight services to get our customers' goods to market. Rail carries 25 per cent of exports and upgrading our rail lines will contribute to the Government's goal of growing New Zealand's export economy. 'KiwiRail did not seek Budget funding for our commercial freight business, as new locomotives and wagons are arriving in the next few years to replace much of our aging fleet, thanks to previous shareholder investment to boost our ability to serve the market.' Mr Reidy says the $143.6 million for the metros means KiwiRail will continue addressing overdue rail infrastructure renewals in Auckland and Wellington to 2027, overcoming historic underinvestment in both cities where maintenance funding has not kept pace with the increased wear and tear as metro patronage has grown. 'We will continue replacing aging infrastructure that results in track faults, which can delay or cancel passenger trains. Work will include replacing end-of-life turnouts (which allow trains to switch between tracks), worn sleepers and rail and improving track foundations. Work will also be done on improving drainage in the rail corridor, and in Wellington there will be additional slope and coastal protection, to improve resilience so that people who take the train will be less affected by weather events. 'While we have made good progress in recent years, there is still a lot of work to do to get the metro networks up to standard. This Budget 2025 investment will help deliver more reliable trains for the people of Auckland and Wellington and set the stage for more frequent trains to come.'
Scoop
19-05-2025
- Business
- Scoop
Budget 2025 Continues Solid Investment In Rail
A $600 million investment in Budget 2025 continues strong backing for New Zealand's rail network as a key part of New Zealand's transport system and to support the Government's economic growth strategy, KiwiRail Chief Executive Peter Reidy says. 'KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. 'This significant investment will continue to enable KiwiRail to grow through the delivery of efficient, reliable freight services for export, import, and domestic freight customers, and help deliver reliable journeys for commuters in Auckland and Wellington. 'The Budget commitment, combined with KiwiRail's focus on improving productivity and asset utilisation, is key to a sustainable rail network for the future.' Mr Reidy says the $461 million funding commitment means the three-year Rail Network Investment Programme 2024-27 is funded so KiwiRail can efficiently look after the national rail network. 'This provides certainty for us to plan and effectively manage our work programme. It also provides certainty for our freight customers who rely on rail as a lower-carbon choice for moving all types of freight. 'In recent years, we have focussed on raising the standard of the national rail network for more reliable freight services to get our customers' goods to market. Rail carries 25 per cent of exports and upgrading our rail lines will contribute to the Government's goal of growing New Zealand's export economy. 'KiwiRail did not seek Budget funding for our commercial freight business, as new locomotives and wagons are arriving in the next few years to replace much of our aging fleet, thanks to previous shareholder investment to boost our ability to serve the market.' Mr Reidy says the $143.6 million for the metros means KiwiRail will continue addressing overdue rail infrastructure renewals in Auckland and Wellington to 2027, overcoming historic underinvestment in both cities where maintenance funding has not kept pace with the increased wear and tear as metro patronage has grown. 'We will continue replacing aging infrastructure that results in track faults, which can delay or cancel passenger trains. Work will include replacing end-of-life turnouts (which allow trains to switch between tracks), worn sleepers and rail and improving track foundations. Work will also be done on improving drainage in the rail corridor, and in Wellington there will be additional slope and coastal protection, to improve resilience so that people who take the train will be less affected by weather events. 'While we have made good progress in recent years, there is still a lot of work to do to get the metro networks up to standard. This Budget 2025 investment will help deliver more reliable trains for the people of Auckland and Wellington and set the stage for more frequent trains to come.'
NZ Herald
19-05-2025
- Business
- NZ Herald
Interislander's Aratere ferry to retire in August
When announcing the retirement, KiwiRail Chief Executive Peter Reidy said they would 'work through the detail of that decision - firstly with our own people, especially our Interislander crews. 'A ship is a special workplace and for some of our people, Aratere is a home away from home. 'The ship has been a workhorse of Interislander, giving huge service to freight customers and passengers alike since it entered service on Cook Strait in 1999.' Reidy said moving from three ships to two would mean the loss of some roles, but that the exact number would depend on the outcome of a consultation process. 'We will also be talking to customers and other parties about operational arrangements for the transition period to new ships. 'This will include developing a workable ship maintenance programme once we move to two ferries, and de-risking impacts for the Cook Strait market for the four-year transition until the brand new, larger, rail-enabled ferries arrive. 'We are committed to continuing to run a safe and reliable service for passengers and freight throughout that period using Interislander's remaining two ships, Kaitaki and Kaiārahi.' Aratere was due to leave Wellington next month to go to dry dock in Singapore, but that plan has clearly changed. Instead, Kaiārahi will now go to dry dock on 27 June. The update on Interislander's website says Aratere will provide cover and retire when Kaiārahi returns, which is expected to be between 18 and 30 August. It says to prepare for a two-ship fleet, they're taking advantage of existing maintenance windows. 'This will ensure we maximise the two-ship capacity with a year on / year off dry dock maintenance programme during the transition period to the brand new, rail enabled ships in 2029.' Interislander says anyone booked to travel on Aratere from September will receive an email or txt informing them of new sailing details. There have also been timetable changes for anyone booked to travel on Kaiārahi from September. The company acknowledges Aratere's retirement will have an impact on sailing availability, especially during the busy summer period, and is advising travellers to plan ahead. 'The retirement of Aratere in mid to late August will reduce the overall freight and passenger capacity of the Interislander fleet. 'You may have to travel at less popular times or be flexible on the dates you travel. 'If you are planning to travel during the summer peak it is best to get in early', the website warns. The Aratere made headlines in June last year when it ran aground after leaving Picton. An interim report into the grounding found the bridge crew did not know how to turn off the autopilot function on a new steering control system. Minister for Rail Winston Peters announced a plan in March for what he is calling 'two new rail ferries' to replace Interislander's ailing fleet in 2029. The plan replaces Labour's iRex project that would have delivered two new mega ferries and upgraded port infrastructure in Wellington and Picton. The Government scrapped that project after budget blowouts to the infrastructure saw the total cost balloon to around $3 billion. Peters said the ships the Government was now looking for would be 'approximately 200m long - longer and wider than the current fleet', however they would be shorter than the ferries ordered under Labour in 2021.
