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Pike River Coal Welcomes Funding of Greyport Terminal

Saturday 23 June 2007, 8:58AM

By Mediacom

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GREYMOUTH

Pike River Coal Limited today welcomed the funding of Greyport Terminal Company Limited, a joint venture between the Port of Westland and Port Taranaki.


Greyport Terminal will undertake the redevelopment of Greymouth port and the operation of the terminal being established to ship one million tonnes of Pike River hard coking coal a year to Port Taranaki for export. Port Taranaki is underwriting the development costs at Greymouth port expected to be in the range of $15-$18 million.


Pike River Chief Executive Gordon Ward says: “The funding of Greyport Terminal is another step towards making Pike River New Zealand’s second largest coal exporter.”