Crown contribution for communications cable plan

TOM PULLAR-STRECKER
Last updated 05:00 30/05/2014

Relevant offers

Industries

Why faking your CV is a popular pastime Pager network to be switched off in 2017 TPP may force New Zealand to amend software patent law Shanton rescued, but another fashion store Identity in liquidation Rocket Lab signs deal to work with Nasa FMA sues former Milford Asset Management portfolio manager PWC says Australian GST move makes level-playing field in retailing more likely Oracle called time on fruitless dalliance with Inland Revenue Don't blame us, blame the traders: Property Investors Federation Sir Peter Talley predicts grim future for jobs, education

Hawaiki Cable's bid to build a US$300 million (NZ$353m) communications cable linking New Zealand, Australia and the United States has received a further credibility boost.

Communications Minister Amy Adams told the parliamentary commerce select committee yesterday that Crown-owned company Reannz was negotiating a contract with Hawaiki that would see it chip in $15m in upfront funding from government coffers.

The money was first set aside by the Government six years ago to encourage the construction of an alternative to the Southern Cross cable. Reannz's total commitment over the life of any contract could be higher.

"We are working with Hawaiki; there is no secrecy about that," Adams said.

Although there had been disappointments before, such as the failure of Pacific Fibre, which had also been a candidate for the Reannz funding, the Government was tracking on the basis that Hawaiki's cable was proceeding, she told Fairfax Media.

"What we are working through at the moment is the negotiation of a potential contract," she said. "We certainly want to make it clear that if they can make it happen, we will be there."

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content