Port ownership model up for review

The Taranaki Regional Council has sought public feedback on whether it should continue as the sole owner of Port Taranaki ahead of its own formal review of its ownership of the facility.

The port is one of several issues the Taranaki Regional Council (TRC) opened to feedback during the public consultation process for the proposed 2021-2031 long-term plan.

It wanted to know whether ratepayers think investments at the port should be more diversified, and whether the region would support a full, or partial sale of the company.

The council also sought views on future freshwater use, public transport, a recovery plan following Covid-19, relocating the council’s Stratford office, and a Ma¯ ori constituency.

The feedback sought on the port precedes the council’s own review of the ownership model of the New Plymouth facility.

An economic report in 2017 showed the port’s operations generated $28m annually for the region from log and methanol exports, and importing animal feed and fertiliser.

The report showed Port Taranaki was the second largest in New Zealand, behind Port of Tauranga, for volume of exports.

Annual dividends from the port help offset TRC rates and charges to the public.

In a statement TRC corporate services director Mike Nield said the council’s ownership of Port Taranaki was due for review and not driven by external circumstance. The long-term plan process was an opportunity to gauge current public opinion ahead of a formal review, he said.

‘‘The port question was not among the issues formally being consulted upon for the LTP.

‘‘Rather, it was one of the other areas on which public feedback was sought,’’ he said.

TRC would consider the findings from submissions on the issue when the review was complete. Any changes to the current ownership structure would need to go out for formal public consultation so that the issues and consequences were discussed fully in the community, he said.

Nield said no timeframe had yet been set for the ownership review.

Taranaki Chamber of Commerce chief executive Arun Chaudhari said the chamber had, in its submission on the port ownership review, supported partial sell-off of Port Taranaki but leaving the controlling interest with the TRC.

Partial ownership of the port would allow injection of new capital to diversify trade at the port, the submission said.

Several of Port Taranaki major clients including OMV New Zealand, and Methanex declined to comment on the review.

Ninety submissions were received by the council when submissions closed on April 9. Public hearings are scheduled at the regional council chambers in Stratford on May 10-11.