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What payments have been made to Guangzhou Shipyard International under the Cook Strait ferry shipbuilding contract to date, and what is the milestone payment schedule for the remainder of the contract?

Answered Question 30351 (2026)
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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • What payments have been made to Guangzhou Shipyard International under the Cook Strait ferry shipbuilding contract to date, and what is the milestone payment schedule for the remainder of the contract?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

The first milestone payment was made on signing the contract in November 2025. The quantums of the remaining milestone payments have not been released, but they total to $596 million (subject to foreign exchange rates) under the fixed-price contract.