WDCHL's role is to manage and oversee the council's commercial assets and it also oversees GasNet and New Zealand International Commercial Pilot Academy. The holding company, which has been operating since 2002, is fully owned by Whanganui District Council.
The council's contribution to the wider port revitalisation project has involved the establishment of new port entities purposed with the rebuilding of the port wharves and associated infrastructure and the running of the operations of the port, including the management of the Harbour Endowment portfolio.
Port assets valued at $8.8m and Harbour Endowment properties valued at $19m were transferred to the limited partnership on April 1.
Some councillors questioned the need for a CCO to manage port operations and Fermor reminded them they had already voted in favour of the proposed structure in 2020.
Plans for the port revitalisation began in 2016, when the council received government funding through Accelerate 25, the Whanganui-Manawatū regional growth study, to develop a plan for revitalising the port area.
In its 2019-20 annual plan, the council committed to spending $12.3m on infrastructure requirements needed for port users and sought additional funding of $12.5m from the Government through the PGF which was confirmed in July 2020.
The council sought public submissions on the limited partnership structure plan and three were received. Two supported revitalisation but did not think the proposed model would work, and a third said the project should be abandoned to let "nature take its course".
A service-level agreement between the council and the Port Operating Company will enable operational services for the port, property harbour endowment portfolio and the port revitalisation project to continue while the port partnership considers how it wishes to approach its business operations for an initial 12 months.
The partnership, known as the Whanganui Port Limited Partnership, now owns and operates the port and its assets previously owned by the council.
