Lines company unveils $748 million spend over next 10 years
A Dunedin-owned lines company, which is being taken to court by the Commerce Commission, has revealed a $748 million decade-long investment plan.
Aurora Energy will spend $748 million on new developments, and renewing and maintaining the existing network, including replacing 10,000 power poles over the next 10 years.
Chief executive Richard Fletcher confirmed shareholders – effectively Dunedin ratepayers – will not expect a dividend for at least three years.
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