January 28, 2020 / 10:15 PM / in a month

New Zealand to invest on roads, rail, schools and hospitals in NZ$12 bln infrastructure investment

WELLINGTON, Jan 29 (Reuters) - New Zealand’s prime minister said on Wednesday that roads, rail, schools and hospitals will be built and upgraded across the country, as part of its NZ$12 billion ($7.90 billion) infrastructure programme announced last year.

“This is a once in a lifetime opportunity to invest in New Zealand — modernising our infrastructure, preparing for climate change and help growing the economy,” Prime Minister Jacinda Ardern said in a statement, adding that the investment makes sense now due to historically low interest rates.

The plans include a NZ$6.8 billion investment for transport infrastructure, earmarking NZ$1.1 billion for rail and NZ$2.2 billion for new roads in Auckland.

Ardern announced on Tuesday that the country will go to the polls on Sept 19.

Plans to invest in infrastructure projects were first mentioned last month in New Zealand’s economic and fiscal update.

$1 = 1.5181 New Zealand dollars Reporting by Praveen Menon; Editing by Sandra Maler

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