August 22, 2025
- Settlement reached with Hyundai Mipo Dockyard to exit ferry contracts signed in 2021.
- Final settlement: $144m; total paid to HMD: $222m (*)
- Overall iReX project cost: $671m
- $449m already spent on landside infrastructure, project management and wind-down costs
- KiwiRail to work with Ferry Holdings and ports of Wellington and Picton on new ferries by 2029
(*) New Zealand Dollars
Source: KiwiRail
Ferry Shipping News – Tag Kiwirail