Ann: GENERAL: TRP: North Island Grid Upgrade Proj

• Release Date: 18/05/12 10:30
• Summary: GENERAL: TRP: North Island Grid Upgrade Project - Update on expenditure
• Price Sensitive: No
• Download Document  1.11KB

					

TRP
18/05/2012 08:30
GENERAL

REL: 0830 HRS Transpower New Zealand Limited

GENERAL: TRP: North Island Grid Upgrade Project - Update on expenditure

Transpower advises that the final cost for its North Island Grid Upgrade
Project is forecast at up to $894million. Transpower had previously disclosed
in its Half Yearly Report to 31 December 2011 that the cost was forecast to
be
up to $864million, being the best estimate of the total end cost at that
time.

The North Island Grid Upgrade Project involves the construction of a 186km,
400 kV capable overhead transmission line from Whakamaru, north of Lake
Taupo, to Pakuranga, on the south-eastern side of Auckland, with associated
substations and underground cables. It will provide a more secure and diverse

supply into the Auckland region.

The increases are largely in the cost of construction of the overhead
transmission line and the acquisition of associated property rights along the
line.

For further information, please contact:
Rebecca Wilson, Corporate Communications Manager, 04 590 6695; 021 578
608
End CA:00222977 For:TRP    Type:GENERAL    Time:2012-05-18 08:30:08