\u201cWe\u2019ve spent the last decade rebuilding and strengthening the port. Today\u2019s announcement is about creating the capacity, resilience and capability needed for the next generation of South Island trade,\u201d Bragg said.<\/p>\n
CCHL chairman Bryan Pearson said the board\u2019s decision to approve LPC\u2019s major transaction followed \u201cdue diligence into the project\u2019s strategic need, business case, funding pathway and long-term benefits\u201d.<\/p>\n
\u201cThis approval by CCHL reflects confidence in Christchurch, the South Island economy and our strong belief in Lyttelton Port Company\u2019s role as the South Island\u2019s key international trade gateway,\u201d Pearson said.<\/p>\n
Artist impressions show the Te Awaparahi Bay expansion of Lyttelton Port.<\/p>\n
LPC CEO Graeme Sumner said the need for investment was clear, with ageing infrastructure, growing demand, larger ships and increasing export volumes creating the \u201cright conditions to move forward\u201d.<\/p>\n
\u201cThe resilience of some of the container berths is a major driver for the project,\u201d Sumner said. <\/p>\n
\u201cRebuilding them would take at least three years and significantly disrupt container operations.<\/p>\n
\u201cBuilding the Te Awaparahi Bay expansion removes the need to rebuild these wharves and allows the port to continue operating at full capacity.\u201d<\/p>\n
Sumner said the port currently faced a \u201cnumber of constraints\u201d.<\/p>\n
\u201cNinety-two % of the ships being built today cannot fit into Lyttelton Harbour,\u201d he said. <\/p>\n
\u201cThe reality is that if we didn\u2019t do this, those larger container ships would be unable to arrive here.\u201d<\/p>\n
Lyttelton Port CEO Graeme Sumner says the need for infrastructure investment was clear. Photo \/ Dean Purcell<\/p>\n
He said other constraints related to land and efficiency. <\/p>\n
\u201cWe are running out of land as well in order to be able to handle the number of containers that are coming through, and that\u2019s just driven by import and export growth.<\/p>\n
\u201cOur customers also expect us to process our containers faster, so we need more cranes \u2013 we need to actually improve our throughput.\u201d<\/p>\n
The new terminal will feature semi-automated gantry yard cranes, helping the port handle more containers in less space, improving the speed and reliability of terminal operations, and supporting safer, more efficient container movements.<\/p>\n
When complete, the port\u2019s annual berth capacity will be about 850,000 twenty-foot equivalent units (TEU).<\/p>\n
An artist impression of the Te Awaparahi Bay expansion.<\/p>\n
Sumner said the announcement followed strong financial performance for LPC.<\/p>\n
\u201cNone of this happens without our people. Today\u2019s announcement reflects the commitment, expertise and hard work of generations of LPC staff,\u201d he said.<\/p>\n
The project is expected to be complete by 2031.<\/p>\n
CCHL rejects proposal to lease Lyttelton Port<\/p>\n
The announcement comes after CCHL rejected an unsolicited proposal to lease Lyttelton Port\u2019s operating entity, saying it did not warrant further investigation.<\/p>\n
It was a decision, the consortium behind the proposal said, that denied Christchurch the chance to consider \u201ctwo fundamentally different futures\u201d for the port.<\/p>\n