Infrastructure
Fonterra to go coal-free 11 years ahead of schedule
By Rebecca Howard July 18 (BusinessDesk) - Dairy giant Fonterra Co-operative Group said it is shaving 11 years off its coal target, putting an immediate stop to installing any new coal boilers or increasing capacity to burn coal. “One of the emerging themes in our strategy...
Huawei committed to NZ even if govt doesn’t come around on spy fears
By Paul McBeth July 18 (BusinessDesk) - Huawei Technologies won’t turn its back on New Zealand, even if it can’t convince the government that it’s not a front for Chinese spies. The New Zealand government is coy on the Chinese telecommunication giant's offer to sign a ‘no s...
Mercury points to peaking gains as FY production drops 10%
By Gavin Evans July 18 (BusinessDesk) - Mercury NZ says it relied on the peaking capacity of its Waikato hydro generation to capture high wholesale power prices in the June quarter. The country’s third-largest power retailer said its hydro dams and geothermal plants earned...
Asset Plus sells Heinz Watties distribution centre for $29.1 mln
By Paul McBeth July 18 (BusinessDesk) - Asset Plus has sold its Heinz Watties distribution centre in Hastings for $29.1 million to a property syndication which it will underwrite for a fee. The real estate investor signed an unconditional agreement with E+O Property Syndic...
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