Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Channel Infrastructure NZ Limited ( (NZ:CHI) ) just unveiled an update.
Channel Infrastructure told shareholders it is advancing key storage projects that underpin New Zealand’s fuel security, including 93 million litres of diesel storage for the Government due by 31 May 2026 and a Z Energy jet fuel tank now scheduled for commissioning in July, six months early. These projects will add several days of national fuel cover and demonstrate the company’s execution capability on large, time-critical infrastructure.
The company also upgraded expected revenue from its Higgins bitumen import terminal contract to $57 million over 15 years, reflecting expanded scope and higher project costs of $25 million to $27 million, and lifted 2026 EBITDA guidance to a range of $97 million to $105 million. Directors highlighted a strong dividend track record since its 2021 transition to an import-only terminal and reiterated a preference for pro-rata capital raisings to preserve fair participation for existing investors.
More about Channel Infrastructure NZ Limited
Channel Infrastructure NZ Limited operates New Zealand’s largest fuel import terminal at Marsden Point, handling about 40% of the country’s transport fuel and 80% of its jet fuel. It receives, stores, tests, and distributes petrol, diesel, and jet fuel via a deep-water harbour, extensive tank storage, a pipeline to Auckland, and trucking into Northland, and also holds a minority stake in the Somerton jet fuel pipeline to Melbourne Airport and operates a fuel testing subsidiary.
Average Trading Volume: 698,263
Technical Sentiment Signal: Buy
Current Market Cap: N$1.24B
Learn more about CHI stock on TipRanks’ Stock Analysis page.