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flag NZ rail minister addresses $4 billion Cook Strait ferries cost overrun in Parliament.

flag Minister for Rail Winston Peters addressed Parliament on March 12, 2025, discussing the Cook Strait ferries project, which saw costs soar from an initial $400.1 million to potentially $4 billion. flag Peters confirmed the government is working on reducing costs and has been in talks with international shipyards. flag He highlighted the project's progress and the involvement of key stakeholders like KiwiRail and new company Ferry Holdings Limited. flag In response to concerns about privatization, particularly of school and hospital buildings, Peters emphasized the need for international investment to boost the economy.

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