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| Auckland port company to receive council capital |
| Friday, 05 June 2009 12:13 | |||
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NZ’s largest port company, Ports of Auckland, will receive a capital injection from its local body owner. Auckland Regional Holdings chair Judith Bassett says the agency is awaiting a business plan from the port company within days, before finalising a capital payment. Ports of Auckland has been conducting a financial review after declining freight volumes and profits, and a reduced dividend to ARH which is a subsidiary of the Auckland Regional Council. Ms Bassett says the injection of capital has been approved by the regional council, but will also need the approval of the Auckland Transition Agency which is overseeing the amalgamation of the region's eight local bodies.
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