The 70 million NZ dollars (58.65 million U.S. dollars) investment in a new gas plant to supply a New Zealand Steel plant is a strong sign of confidence in the New Zealand economy, Economic Development Minister Steven Joyce said on Wednesday.
Joyce, who attended a groundbreaking ceremony for the BOC gas facility at New Zealand Steel’s site at Glenbrook, just south of Auckland, said the construction would create 120 jobs over two years.
“The new contract for BOC Gases to build a plant to supply air gases to New Zealand Steel for at least another 20 years is excellent news,” Joyce said in a statement.
“It shows the confidence the companies have in investing in our economy and recognizes the importance of having a strong manufacturing industry in New Zealand. The 120 new jobs are clear evidence that nothing creates sustainable employment more than business confidence and growth.”
Once operational in early 2014, the new plant would enhance reliability of supply to the steel plant and allow increased quantities of liquid oxygen, nitrogen and argon to the broader New Zealand air gases market that could be used in hospitals, food production and metal fabrication.