A digital image of a new Interislander ferry that was to be built by Hyundai Mipo Dockyard.
Photo: Supplied / KiwiRail
KiwiRail and the government have confirmed the final settlement costs for breaking the contract with South Korean shipbuilders is $144 million.
That brings total project costs for the scrapped iReX ferry project to $671m.
Some $449m was spent on landside infrastructure, project management and wind-down costs.
Another $222m in total was paid to Hyundai Mipo Dockyards.
Minister for Rail Winston Peters says engagements with shipbuilders for new replacement ferries are progressing well, as is the remaining work on the ports.
He says the new ferries will provide a more pragmatic solution at an affordable price.
More to come…