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Note 29: City Rail Link

On 30 June 2017 the Government signed a Sponsors Agreement with the Auckland Council to equally co-fund the development of the Auckland City Rail Link (an underground rail line between the city centre and the existing western line). A new company (City Rail Link Limited) has been set up to deliver the project which is estimated to cost $3.4 billion. As joint sponsor, the Government's share of costs is therefore expected to be $1.7 billion.

City Rail Link Limited (CRLL), a jointly controlled Crown entity, has been incorporated and will assume the responsibility for the design and construction of the City Rail Link from 1 July 2017 pursuant to the Project Delivery Agreement.

Subsequent to balance date CRLL obtained the necessary authority to assume responsibility and the Crown's contractual commitments came into effect.

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