The Super Fund's bid to build and own Auckland's light rail lines is a political gift for Labour, but disguises a potentially expensive money-go-round between state-owned entities.
The Government could roll out public private partnerships to fund infrastructure projects across Auckland and Wellington, Transport Minister Phil Twyford and Finance Minister Grant Robertson said today after the surprise launch of a plan for light rail lines in Auckland that could be funded by a New Zealand Superannuation Fund-led consortium.
The New Zealand Superannuation Fund and Canadian fund manager CDPQ Infra have made an unsolicited bid to build and operate two lines in the proposed Auckland light rail, which are already getting $1.8 billion of seed investment.
Transport Minister Phil Twyford and Finance Minister Grant Robertson have announced the Cabinet has agreed to launch a procurement process to build two light rail lines from the Auckland CBD to the airport and North West Auckland.
New Housing and Transport Minister Phil Twyford tells Bernard Hickey the Government has big plans to change the way Auckland's multi-billion dollar light rail projects will be paid for -- by motorists and property developers.