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By: Sam Thompson | Business News | Friday April 27 2012 6:59
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The country's only oil refinery will know today if it can go ahead with a $365 million expansion. Refining NZ shareholders will be voting on the plan today after shareholder meetings across the country. Chief Executive Ken Rivers says the expansion at Marsden Point is expected to create around 700 jobs during construction, boost energy efficiency, reduce carbon emissions and increase income by around $70 million a year. He's received overwhelming support for the expansion from smaller shareholders and if the decision is reliant on a show of hands at the shareholder briefings, it would have been a â shoe-inâ . But Mr Rivers says the refinery's customers, the major oil companies, retain the majority of the shareholding and will apply their own criteria when they vote this morning. Photo: stock.xchng |
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Oil |
Wednesday, May 15, 2013
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