Brief: Refining NZ Announces Transition Of Marsden Point Site To A Fuel Import Terminal

Channel Infrastructure NZ

22/11/2021 24:58

Refining NZ  NZR.NZ : 
    * REACHED A KEY MILESTONE IN TRANSITION TO A FUEL IMPORT
TERMINAL
    * ENTERED INTO LONG-TERM AGREEMENTS WITH ITS THREE EXISTING
CUSTOMERS FOR PROVISION OF IMPORT TERMINAL SERVICES
    * ALL CUSTOMERS AND REFINING NZ AGREED TO WITHDRAW EXISTING
DISPUTE NOTICES UNDER PROCESSING AGREEMENTS
    * NOW MADE FINAL INVESTMENT DECISION TO PROCEED WITH
CONVERSION
AND NAME CHANGE TO CHANNEL INFRASTRUCTURE NZ LTD
    * PLEASED TO ANNOUNCE IT HAS EXECUTED LONG-TERM AGREEMENTS
TO
PROVIDE DEDICATED PRIVATE STORAGE, WITH FURTHER AGREEMENTS
EXPECTED
    * INITIAL CAPITAL COMMITMENT OF ABOUT NZ$30 MLN EXPECTED TO
RESULT
IN INCREMENTAL REV OF NZ$50 MLN (REAL)

Source text https://www.nzx.com/announcements/383225
Further company coverage:  NZR.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))