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FINWIRES

Channel Infrastructure Completes Diesel Storage Project for New Zealand Government

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Channel Infrastructure (ASX:CHI, NZE:CHI) completed a fast-tracked project at its Marsden Point Energy Precinct, making 93 million liters of diesel storage capacity available to the New Zealand Government, according to a Monday filing with the New Zealand bourse.

The project, completed over nine weeks with support from Northland contractors, involved installing more than 750 meters of new pipework and added enough storage capacity to meet about nine additional days of New Zealand's diesel demand, per the filing.

The company said that additional jet fuel storage capacity for Z Energy is expected to become operational in July.

The company will retain around 350 million liters of tank capacity for future fuel security initiatives after both projects are completed, it added.

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