Tag Archives: Infrastructure

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. The new Tasman Global Access Cable will boost broadband connections between the two countries, with Spark investing US$32 million in the …

Infratil shares rose to the highest in more than six years on the prospect of a capital return after the A$605 million sale of its Australian energy operations, which will generate a $44 million fee for manager HRL Morrison and Co. The Wellington-based company sold Lumo Energy and Direct Connect Australia after reviewing its ownership of the assets in May, …

The Overseas Investment Office has approved the sale of the New Zealand waste management arm of Transpacific Industries to Beijing Capital Group. Chinese state-owned Beijing Capital spent $950 million on the New Zealand business, buying it from the Queensland-based company in March. At the time of the announcement it said the current management team would remain and operations would continue as normal. …

One of New Zealand’s best-known commercial construction firms, Mainzeal, placed its operating business in receivership as a combination of leaky homes suits and a botched supply chain from China combined to take the company down. sms spy android In a dramatic afternoon on New Zealand’s national day, Waitangi Day, Mainzeal Property and Construction (MPC) was placed in the hands of …

The country’s third largest construction company collapsed and was placed in receivership today after the Mainzeal Group’s major shareholder, Richina (NZ) LP, refused to commit more capital and the bank pulled its funding. Mainzeal’s sole remaining director Richard Yan – who also heads Richina – said that after  “a series of events that had adversely affected the company’s financial position” …

By Pam Graham Marlborough’s mayor is hoping meetings early this year will shed light on why the government is seriously considering a $422 million ferry terminal at Clifford Bay which will knock the economy of Picton. Marlborough District Council Mayor Alistair Sowman says a meeting he has on Thursday with Andrew Robertson, the management consultant running the Clifford Bay project …

The price of internet connection to the rest of the world is dropping again as New Zealand’s only international cable owner, Southern Cross Cables, announces a 20 percent cut in its capacity prices. However, critics of the single carrier say it should be cutting its fees much harder to encourage the uptake of fast internet services which government policies have …