Posted June 06, 2019 16:33:46 The Mercators Project, a $70 million project to replace the city’s old rail tunnels, is set to begin work in 2020, a year earlier than originally planned, according to an article in the New Zealand Herald.
The $100-million project is one of the largest renewable energy projects in the country and the first in New Zealand to be financed through the National Infrastructure Bank (NIB), a new, non-bank financing agency established by the National Government to provide support to renewable energy.
The Herald’s article, titled “The Mercors project is underway and it’s going to be worth the wait”, details how the project is expected to cost $100m.
The project is also expected to generate $500m in new tax revenue annually, according the article.
“The project will be worth a lot of money, and it will create jobs and opportunities in New South Wales,” Minister for Infrastructure, Investment and Investment, Tom McMillan, said in a statement.
“This is a win-win for everyone.”
The Merkurra Crossing in South Auckland, which was built in 2008, will be completed in 2023, but construction of the project has been delayed due to the impact of the 2015 earthquakes.
New South Welsh Minister for Environment, Conservation and Water Resources, David Shoebridge, said the state’s National Infrastructure Corporation had been “working hard” to complete the project, which is part of a broader effort to rebuild and improve the city.
“In New Zealand, every penny counts, so the fact that this project is being funded by NIB is a great credit to the government,” Mr Shoebrid said.
“We will be working with the local authorities and with the state to make sure that the Merkurs Crossing is fully operational by 2023.”
The Herald article also said the Mercans project is the first of several projects under construction in the Auckland region, including a $500-million, 200-kilometre stretch of the North-West Link tunnel that is expected in 2021, a new $600-million tidal dam project in Southland and a $150-million development at the foot of Mount Tabor.
“There are lots of new projects that we’re working on all over the country,” Mr McMillans spokesperson told the Herald.
“As a matter of fact, the first project we announced was the Merco project, the $50-million wind farm in the North East.”
Mercants project, also known as the Mercurie Crossing, is the third phase of the Mercus Project, which will see the construction of a $30-million seawall project in Auckland’s North Island, with construction expected to begin in 2020.
The second phase will see a $50 million new seawall in the Otago Peninsula.
The Mercuries project will also see the first phase of a new residential tower in the South Island.
The completion of the first two phases of the New Southwales Mercuria Crossing will see up to 2,500 new jobs created and help with the construction and maintenance of the city of Auckland’s rail tunnel.