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By: Jacob Brown | Latest Christchurch News | Wednesday August 22 2012 17:25
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The amount spent on rebuilding Christchurch's infrastructure is expected to double heading into 2013. The prediction comes following the release of Fletcher Building's end of year financial results. Net earnings are down from $283 million to $185 million. CEO Jonathon Ling says work in Christchurch has been low so far, due to planning and design. But he's confident the activity as part of the Stronger Christchurch Infrastructure Rebuild Team isn't far away from going up a few notches. "We are expecting that that work will ramp up from the current levels of around $20 million of work to somewhere around $40 million worth or work sometime in the next six or seven months." There's also been low levels of residential and commercial builds in Christchurch. Mr Ling says post-earthquake activity is still a long and slow process. "The central city - CBD - is still very much in demolition phase, albeit the development plan has now ben released. But I think it's going to be sometime before we see a significant uptake in the commercial rebuild." |
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