New national infrastructure agency established, aiming to boost private investment.
Infrastructure Minister Chris Bishop and Transport Minister Simeon Brown announced significant progress in addressing New Zealand's infrastructure deficit over the past year. A new national infrastructure agency, formed from a repurposed Crown Infrastructure Partners (CIP), will serve as the Crown's "shopfront" for unsolicited proposals and facilitate private sector investment.
The agency will administer Central Government infrastructure funds, partner with agencies on projects involving private finance, and act as the Crown's interface with the private sector. This move is expected to help close New Zealand's infrastructure gap faster by unlocking access to more capital.
Other key initiatives include a refreshed Public Private Partnership (PPP) framework, which provides guidelines for future PPP transactions. Additionally, the Government has committed to increasing pothole prevention funding and targets, aiming to repair 95% of potholes on main state highways within 24 hours of identification.
The ministers also announced the revival of the Roads of National Significance programme, with 17 projects planned across New Zealand to support economic growth. A new consenting framework is expected to fast-track consents for infrastructure projects with regional and national benefits.
These developments form part of a broader effort to improve the foundations of the infrastructure system and address New Zealand's infrastructure deficit.