Toll road attracts private interest

By DANIEL RIORDAN transport writer

Four groups, including French and Australian companies, want to build New Zealand's only toll road, linking the Whangaparaoa Peninsula and State Highway 1.

The Weiti Toll Road will be a 7km road, including a bridge crossing the Weiti River.

Rodney District Council is sponsoring the project using Public Private Partnership principles - in which the scheme is financed, maintained and run by the private sector and transferred to the council for no cost after 30 years.

Council project manager John Brown said the four groups were ABN Amro/Fletcher Construction/Transfield Services; Macquarie Bank/Downer Construction and infrastructure group Egis, a unit of French financial services group CDC; Westpac/Fulton Hogan/Wilson Parking; and Multiplex Construction/Tramco Group.

Mike Caird, director of ABN Amro's investment banking in New Zealand, expects the council to draw up a shortlist by the middle of this month, invite tenders and make a final decision by February or March. Building could begin by the middle of next year.

Mr Caird said the project would cost less than $50 million.

He said ABN Amro wanted to get involved in more infrastructure investments.

The bank had been involved in Wellington's wastewater project a few years ago, was one of four banks which had financed TelstraSaturn's network rollout last year, and is advising Genesis Power on its Huntly expansion.

ABN Amro might also consider involvement with rail investors in Auckland and Wellington once the future of the regions' rail corridors became clearer, and with other toll roads if the Weiti model worked well.

The last road, bridge or tunnel toll, on the Tauranga-Mt Maunganui harbour bridge, was lifted in July.