KiwiRail is set to cancel its contract with Hyundai Mipo Dockyard after the Government effectively pulled the plug on the build of two new Interislander ferries last year.
KiwiRail chief executive Peter Reidy said on Wednesday it had started discussions with Hyundai to enter a termination agreement for the contract, following the Government’s decision not to provide further funding for the Inter-Island Resilient Connection (iReX) project.
Reidy thanked those involved with the project to date but said it could not proceed without further Government funding.
