By Sarah Mc Millan\/cvnznews.com<\/p>\n\n\n\n
Marlborough District councillors have unanimously agreed to loan $110 million to Port Marlborough to finance the Waitohi Ferry Redevelopment Project, clearing the way for long\u2011delayed upgrades to Picton\u2019s ferry precinct.<\/p>\n\n\n\n
The decision follows a public consultation process that drew 73 submissions, with Mayor Nadine Taylor saying the message from the community was clear: the project is essential for Picton and Marlborough and needs to proceed without further delay. Under the proposal, Port Marlborough will repay the loan in full, including interest, and continue returning dividends to the council. Those dividends will be used to benefit ratepayers across the region. The council says the project will be delivered at no cost to ratepayers, supported by a financial security package.<\/p>\n\n\n\n
Mayor Taylor said the investment marks a major step forward after years of uncertainty. The original iReX redevelopment plan, first proposed in 2018, was halted in 2023 after government changes and cost escalations. \u201cThis has been a drawn\u2011out process and the community has had to work through the frustrations of Government changes and the associated disruptions,\u201d she said. \u201cBut we are now able to move forward with confidence.\u201d<\/p>\n\n\n\n
The redevelopment will support new Interislander ferries currently being procured and is expected to modernise port operations, improve safety, and deliver more efficient and environmentally friendly services for passengers and freight. Port Marlborough has also secured a 60\u2011year commercial agreement confirming its long\u2011term role in the Cook Strait crossing.<\/p>\n\n\n\n
Mayor Taylor said significant work will take place in both the port and Picton township over the next three years as the project progresses. Final negotiations on the financing package are still to be completed, but councillors say the unanimous vote signals strong regional backing for the redevelopment and its long\u2011term economic benefits.<\/p>\n\n\n\n
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By Sarah Mc Millan\/cvnznews.com Marlborough District councillors have unanimously agreed to loan $110 million to Port Marlborough to finance the Waitohi Ferry Redevelopment Project, clearing the way for long\u2011delayed upgrades to Picton\u2019s ferry precinct. The decision follows a public consultation process that drew 73 submissions, with Mayor Nadine Taylor saying the message from the community<\/p>\n","protected":false},"author":1,"featured_media":13428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[41],"tags":[113,1235],"coauthors":[380],"class_list":{"0":"post-13427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-zealand","8":"tag-new-zealand","9":"tag-picton"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/cvnznews.com\/wp-content\/uploads\/2026\/05\/Picton.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/13427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13427"}],"version-history":[{"count":1,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/13427\/revisions"}],"predecessor-version":[{"id":13429,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/posts\/13427\/revisions\/13429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=\/wp\/v2\/media\/13428"}],"wp:attachment":[{"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13427"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/cvnznews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=13427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}