PGF support for new marine travel liftRegional Economic Development
Regional Economic Development Minister Shane Jones has today announced Provincial Growth Fund (PGF) support for a new 560-tonne travel lift for Oceania Marine Group.
The new lift will better service the growing demand for refit and building services of workboats and superyachts and will help fund civil works at South Shipyard – including new piers, hardstand reinforcement and other works.
“The PGF will support this important investment with a loan of up to $4.8 million, and further discussions are taking place on terms and conditions” Shane Jones said.
“Fifty new jobs and thirteen new apprenticeships are expected to be generated over the coming years as the new travel lift will increase Oceania Marine Group’s revenue. It will also, in turn, create about 50 new jobs for support industries and boost the spending amount of the vessel crew.
“The project has the support of a wide range of complementary businesses in the region, ranging from machinery and equipment wholesalers through to construction and safety services, who noted the enhancement this project will have on their own operations.
“An economic impact study commissioned by Northland Inc and NZTE showed the project would have a significant positive impact on both the Whangarei district and the New Zealand economy – exactly the sort of project we believe the PGF should be backing.
“The project strongly aligns with the PGF’s objectives and will help highlight marine manufacturing as a sector with strong comparative advantage in Northland.
“I’m proud that we’re able to support businesses and achieve more for economic development, job creation and increased social wellbeing in our provinces,” Shane Jones said.
Oceania Marine is a group of companies which operate shipyards and marine business offerings to New Zealand and intentional clients.