Watercare launches $15.2 billion investment programme
Auckland's water utility Watercare has unveiled its largest-ever 10-year capital works programme, worth $15.2 billion, to address years of underinvestment in ageing networks.
Watercare has increased its investment programme by $1.4 billion to $15.2 billion, comprising more than 1,000 water and wastewater projects over the next decade. The utility cited years of underinvestment as the driver for the programme, which will require substantial debt financing. Watercare executives are preparing to raise close to $1 billion in offshore debt to support the works, with total debt forecast to approach $10 billion by 2034.
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BusinessDesk
Watercare boosts 10-year works programme by $1.4b to $15.2b
Watercare has increased its investment programme by $1.4 billion, making its $15.2b progra mme of works the largest 10-year investment plan in its history. The capital programme will be undertaken over 10 years and consists of more than 1,000 water…
1News
Auckland water bills to rise as Watercare unveils $15.2b programme
The utility today unveiled a $15.2 billion capital programme over the next decade, saying years of underinvestment have left Auckland needing major upgrades to its ageing water and wastewater networks.
BusinessDesk
Watercare eyes Europe as $1b debt raise looms, to support $15.2b 10-year capital works programme
Watercare executives are expected to travel to Europe within the next two months as the Auckland water utility prepares to raise close to $1 billion in another offshore debt issue. If the raise goes ahead, it would be the latest…