KiwiRail pays $144 million to settle Hyundai ferry contract cancellation

Friday 15 August 2025 · 2 outlets · 2 reports · updated Fri 15 Aug 2025, 12:10pm

In this story Christopher Luxon, Labour Party, NZME, Winston Peters, Nicola Willis, KiwiRail

KiwiRail has made a final $144 million payment to Hyundai Mipo Dockyard following the cancellation of the Project iRex ferry project. This settlement, announced by ministers Winston Peters and Nicola Willis, follows a previous $78 million payment made to the shipyard.

How they headlined it

11:42am12:10pm

1. NZ HeraldFri 15 Aug 2025, 11:42am

   KiwiRail settles with Hyundai over cancelled ferries with $144 million payment (opens in new tab)

2. StuffFri 15 Aug 2025, 12:10pm

   $222 million paid to shipyard for canned Interislander replacements (opens in new tab)