Project under consideration

SOUTH PORT NEW ZEALAND LIMITED



28 AUGUST 2020

NZX & MEDIA RELEASE


Potential Entrance Channel Improvement Project under
consideration by South Port


South Port New Zealand Limited (South Port) is undertaking an investigation into
the deepening of its entrance channel by removing some higher areas that
currently limit channel width and depth.

The benefits of removing the highpoints in the channel and increasing the
9.7 metre operating draft would assist with improving safety margins for ship
movements and provide greater capacity for vessels to take on additional cargo.

With the recent announcement of the potential closure of New Zealand Aluminium
Smelter (NZAS) by August 2021, it is crucial now, more than ever, that the Port
continues to look for opportunities to secure growth and its future. The project
also aligns with the Company’s purpose “to facilitate the best logistic solutions for
the region.”

Preliminary investigation into the feasibility of the project has reached the stage
where the Company will now commence consultation with a range of
stakeholders before proceeding further.

Further updates will be provided as the investigation progresses.



FOR FURTHER INFORMATION PLEASE CONTACT:

Mr Nigel Gear
Chief Executive
South Port New Zealand Ltd
Tel: (03) 212 8159
Email: ngear@southport.co.nz

Mr Rex Chapman
Chairman
Mobile: 027 454 8455
Email: rex.chapman@cplaw.co.nz