What is the current whole-of-programme cost estimate for the Cook Strait Ferry Replacement Programme, broken down by ships, Wellington infrastructure, Picton infrastructure, KiwiRail road and rail works, and management and contingency, and how does each component compare with the equivalent figure published in November 2025?

Answer

$1.924 billion is the current whole-of-programme cost estimate, including contributions from third parties. The Government will spend no more than $1.704 billion in funding for Ferry Holdings responsibilities. To the extent that we can without compromising commercial and negotiating positions, we have provided the following breakdowns: $596 million for ship contracts, $493 million for all Picton works (of which $110 million will be funded by Port Marlborough and $10 million by NZTA), $409 million for all Wellington works (of which $100 million will be funded by CentrePort), and $426 million for programme management and total contingencies.