Will the Crown Capital Contribution to the Northway consortium be scheduled in multiple payments, if so how are they scheduled and what construction milestones must be met before each payment is made?

Answer

NZTA has designed the commercial details of how the CCC payments from the National Land Transport Fund (NLTF) to the Contractor will function in line with commercial principles and advice developed by the National Infrastructure Funding and Financing Company (NIFFCo) for the Project. This includes appropriately managing the risk to NZTA funds during the construction phase, paying the CCC to the consortium during the back end of the construction phase, and making the payments on a pro rata basis with Contractor’s private capital and subject to the same rigorous conditions and assurance. The current forecast timing of the CCC payments will be subject to change, depending on how the construction phase progresses.