PGF investment in Whanganui Port
Published: Jul 14, 2020
- News and announcements
A Provincial Growth Fund (PGF) investment of $26.75 million was announced in Whanganui on 2 July, to support four projects related to the redevelopment of Whanganui Port.
Whanganui Mayor Hamish McDouall says the funding is welcome news for the district.
"These projects will create hundreds of jobs for local people and ensure that Tupua te Kawa, the values associated with the legal framework of Te Awa Tupua, are upheld," says Mayor McDouall.
The projects receiving funding are:
Port Infrastructure project — $12.5 million equity investment
Through PGF investment in the Port Infrastructure project, Whanganui District Council will upgrade wharves, develop marine infrastructure and improve dredging capabilities. This will enhance the local boat building and marine industry.
Lower River Infrastructure project — $7.5 million grant
Horizons Regional Council will use PGF funding to repair moles and other river training structures that control the alignment of the lower Whanganui River. This will protect nearby developments and critical city infrastructure from flooding, and provide marine access from the sea to the port.
Q-West Boat Builders — $5.25 million loan
A PGF loan for Q-West Boat Builders will help establish a purpose-built facility and 300 tonne vessel hoist for new builds, repairs, and maintenance services within the Port, while employing 30 staff and creating an estimated 80 additional jobs with neighbouring businesses.
Port Employment Precinct — $1.5 million Te Ara Mahi funding
The Port Employment Precinct (PEP) will be established and run by the Whanganui District Employment Training Trust. The PEP will connect local people with jobs created by the Port redevelopment and facilitate on-the-job and classroom-based training.