New Zealand's Channel Infrastructure plans to focus on energy assets (updated)

Channel Infrastructure NZ

18/10/2023 21:25

(Adds details in paragraphs 2 and 3, CEO comment in paragraph
4)
       Oct 19 (Reuters) - Channel Infrastructure NZ  CHI.NZ 
said on Thursday it planned to improve its energy infrastructure
assets and supply chain as it looks to benefit from growth
prospects in sectors like agriculture and tourism.
    The company will also continue to pursue opportunities at
Marsden Point, which was converted from a refinery to an import
terminal earlier in the year.  
    Channel is currently developing a proposal to support the
government on its strategic diesel storage objectives as well as
its customers with the incoming minimum fuel stockholding
obligations from 2025, the firm said.
    "It is New Zealand's decarbonisation pathway that presents
the most exciting longer-term opportunity for Channel
Infrastructure," CEO Rob Buchanan said.
    The company also confirmed it was considering a senior bond
offer of up to NZ$75 million ($43.94 million), expected to open
in the week beginning Oct. 30. 
    
    
($1 = 1.7071 New Zealand dollars)
    

 (Reporting by Echha Jain in Bengaluru; Editing by Devika
Syamnath)
 ((Echha.Jain@thomsonreuters.com;))