The regeneration of CentrePort has taken a major step forward with the finalisation of one of the largest insurance claims in New Zealand.
Nearly three years after the November 14 Kaikoura Earthquake caused major damage, CentrePort has finalised the port infrastructure claim with insurers for $472.5 million (net of deductibles). Adding the earlier finalised Commercial Property portfolio and Coldstore claims, the combined amount totals $667.2 million net of deductibles.
Chief Executive Derek Nind says three years of hard work has gone into getting to this point which marks a significant milestone for CentrePort as it plans for the future.
"It has been a great team effort involving CentrePort staff, insurance claim experts, assessors and engineers. I would also like to thank Vero, its co-insurers and Aon in assisting in the finalisation through what was a complex and challenging time.
"This means we can now proceed with the development of CentrePort’s regeneration with greater surety.
"The regeneration aims to deliver a 21st century logistics asset which is sustainable and brings benefit to the regional economy. It will provide an asset which connects with the communities and regions that we serve.
"CentrePort has also accomplished much over the last three years in improving port resilience, undertaking repairs and freeing up land to create options for long-term development,” said Mr Nind.