Long haul for port company

6:56 am on 2 March 2012

Port Lyttelton says it will take five years to return the port to its pre-earthquake condition.

Temporary repairs have allowed the port to continue operating despite the ongoing earthquakes.

Port Lyttelton is in the middle of a protracted dispute with its insurer over what is believed to be one of the biggest corporate insurance claims ever made in the southern hemisphere.

Chief executive Peter Davie says the company has spent $50 million on repairs but has received $35.7 million from its insurers.

Despite this, he remains confident permanent repairs will be completed in a timely fashion and the port can continue operating in the meantime.

The port is still in discussions with its insurers, but says there are differences of opinion over whether assets are insured for reinstatement and the extent to which repairs are temporary or permanent.