News: Councillors vote to support Ferry Project investment Today, Marlborough District Councillors unanimously voted to support the proposal to loan Port Marlborough $110 million for the Waitohi Ferry Redevelopment Project. This is a major milestone for the project following the recent public consultation process, and many years of work across our teams and project partners. Mayor Nadine Taylor acknowledged the work undertaken by the Port Marlborough team, and Chris McKenzie, Chair of Ferry Holdings Ltd also expressed his appreciation to our team for the strong working relationship and commitment shown throughout the process. With Stage One works already underway, confirmation of the loan means we can now progress toward Main Works commencing in July. The team at Port Marlboroug extends gratitude to everyone who has supported the many public engagements and consultation process over recent months – the full media release from Marlborough District Council is below. We will be sharing further updates on our public channels in the coming weeks as we move into project delivery. Media Release – Marlborough District Council Date: 26 May 2026 Councillors vote to support ferries investment Marlborough District Councillors voted unanimously today to proceed with loaning Port Marlborough $110 million to finance the Waitohi Ferry Redevelopment Project. Mayor Nadine Taylor thanked the 73 people and organisations who made a submission to the consultation process. “We heard a clear message from submitters on the importance of this project to Picton and to Marlborough and that it needed to proceed as quickly as possible.” Under the consultation proposal put forward by Council, Port Marlborough will repay a loan of $110 million in full, including interest, as well as returning a dividend to Council which will be used to benefit all of Marlborough. The project will be structured to ensure it is delivered at no cost to ratepayers, with the provision of a financial security package. “This loan is an investment in Marlborough’s future. There’s much work to be done in the port and in the town of Picton over the next three years,” Mayor Taylor said. “I’m very excited about the new development programme, which will lift the capability of the port and provide safer, efficient and more environmentally friendly ferry services for both passengers and freight.” “This has unfortunately been a drawn out process, stretching back to 2018, when the previous iReX project was first proposed, and then stopped in 2023. The community has had to work through the frustrations of Government changes and the associated disruptions. “Whilst there is still a lot of work to do, I’m pleased to say we are now able to move forward with confidence. The new ships are being procured, Port Marlborough has successfully negotiated a 60-year commercial agreement to cement the Port’s role in the Cook Strait crossing, and the $110 million financing, subject to final negotiations, has been confirmed.” For further information on the consultation process and to read the public submissions go to: https://haveyoursay.marlborough.govt.nz/ For information about the Port Marlborough project, go to: https://portmarlborough.co.nz/waitohi-ferry-redevelopment-project/ For information about the Cook Strait Ferry Replacement Programme: https://www.ferryholdings.co.nz/ Image: Today’s Council meeting – Councillors voted to proceed with a loan to Port Marlborough
