22 Oct 2008

Cook Islands Investment Coorporation says port upgrade will bring economic gains

11:01 am on 22 October 2008

The Cook Islands Investment Corporation says a major upgrade of the country's main port will bring about economic gain.

Plans to redevelop Avatiu Wharf in Rarotonga have been revealed, including the realignment the wharf and widening and deepening of the port, allowing larger ships to berth and turn around in it.

The Chairman of the Investment Corporation, in charge of state owned enterprises, Tapi Taio, says extending the port will create opportunities to make money.

"We can next bring in a bigger tanker inside and maybe the fuel price will go down a bit further, and also we can bring in two big tourist boats because at the moment when they are outside when the sea is rough, we can't bring them in."

Tapi Taio says the government is hoping New Zealand Aid will provide some funding for the 24 million dollar upgrade, which is expected to begin by next September.