What is the current total estimated cost of the Cook Strait ferry replacement programme, broken down by ships, Picton infrastructure, Wellington infrastructure, and programme management and contingency?

Answer

$1.7 billion is the upper limit of costs to be met by the Government for assets the taxpayer will own. In November 2025 we released a breakdown as follows: • Ship contracts: $596 million • All Picton works: $531 million • All Wellington works: $325 million • Programme management and total contingencies: $415 million We also stated that the overall cost of the programme is currently estimated at $1.86 billion but less than $2 billion, of which the taxpayer contribution will be a maximum of $1.704 billion. Since then, Port Marlborough’s contribution has been confirmed as $110 million and we will shortly update the figures to account for finalised agreements between Ferry Holdings and CentrePort, Port Marlborough and KiwiRail. The taxpayer contribution will not change.