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flag New Zealand saves $2.3 billion by replacing the iReX ferry project with two cheaper, hybrid-powered ferries built in China, set for 2029 service.

flag New Zealand has saved $2.3 billion by scrapping the $3 billion iReX ferry project and replacing it with a revised plan to build two new rail-enabled ferries from Chinese shipbuilder Guangzhou Shipyard International for $596 million. flag The new ferries, set to enter service by 2029, will be 200 meters long, hybrid-powered, and capable of carrying 1,530 passengers, 2.4 km of truck lanes, and 40 rail wagons. flag Infrastructure upgrades in Wellington and Picton will cost $1.27 billion, funded over time through port fees and Interislander revenue. flag The project avoids costly consultants and excessive construction, with work beginning in 2027. flag The Aratere ferry has been retired and scrapped. flag The government says the plan ensures value for money, long-term sustainability, and timely delivery despite concerns over China-linked shipbuilder ties.

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