New Zealand Refining Co climbs most in 4-1/2 months on deals, NZ$30 mln investment

Channel Infrastructure NZ

21/11/2021 22:41

** Shares of New Zealand Refining Company Ltd  NZR.NZ  climb
as much as 8.1% to NZ$0.930, set for their best intraday session
since July 6
    ** Petroleum refiner entered into long-term deals with three
existing customers to provide import terminal services
 urn:newsml:reuters.com:*:nFWN2SB05S
    ** Adds that existing dispute resolutions between co and all
customers agreed to be withdrawn under processing agreements
    ** Says investment of NZ$30 mln in private storage business
to result in incremental revenue of about NZ$50 million on a
fixed rental basis over a 10 year term
    ** Stock trades at its highest since Sept 23; 538,461 shares
change hands, 1.8x the 30-day average volume of 284,903
    ** Stock has risen 56.4% so far this year

 (Reporting by Aneetta Thomas in Bengaluru; editing by Diane
Craft)
 ((Aneetta.Thomas@thomsonreuters.com;))