More jet fuel storage
Channel Infrastructure is working with Z Energy to significantly increase jet fuel storage at Marsden Point, boosting resilience for New Zealand’s aviation. The storage will more than double Z’s private storage at the former refinery, providing enough fuel for around 10,000 flights between Auckland and Wellington. The jet fuel is sent directly to Wiri through the Marsden Point to Auckland Pipeline. The storage project is expected to be finished by early 2027.
North middling
Infometrics’ latest monitoring of regional economies shows Northland is middle of the road, with regional employment increasing just 0.3% in the last year. It has done better than seven of the 16 regions, which saw a decline in employment. Infometrics chief executive and principal economist Brad Olsen said the economic crunch is deepening across the country, but there are some positives with dairy prices improving, beef prices up and horticulture exports performing strongly. Lower interest rates throughout the next year will start to reignite economic sentiment to a degree, he said.
New care home