A better way to structure council’s investments in Marsden Maritime Holdings and Northport

The feedback period on this proposal closed on 28 March.

Northland Regional Council is proposing to create a new joint-venture company combining MMH and Northport, together with investment partners Port of Tauranga and Tupu Tonu (Ngāpuhi Investment Fund Ltd).

Making this change would require an amendment to our recently adopted Te Mahere Roa | Long Term Plan 2024-2034.

A month-long consultation period ended on 28 March, and we are grateful to everyone that has taken the time to share their thoughts on the proposal.

Council’s final decision on the proposal – and adoption of an amended Long Term Plan, if they decide to proceed – is expected to be made on 22 April.

Council’s shareholding in MMH is our largest investment, and the port is a critical piece of infrastructure for this region.

We believe this will set Northport up for the future by simplifying MMH’s ownership structure, combining the port and land-based assets and bring full control of Northport under a single ownership umbrella, and ensuring half of the shareholding is held here in Te Taitokerau.

The proposal provides an opportunity for hapū and iwi investment partners to come on board, both now and in the future.

It would also give council a bigger stake in the revenue-generating elements of the assets, including the port. Investment revenue helps subsidise rates and pay for the services we deliver.

Importantly, it’s proposed that council’s additional investment will have no impact on rates but would be funded through a combination of borrowings and the sale of other property holdings.

You can read more in our consultation document below.

There’s a lot to consider with this proposal, and we’ve put together a consultation document to try and explain things as clearly as possible.

Read the Consultation Document open in new window open in new window

For more detail, see “Other key information” below.