Port Otago's base in Port Chalmers. Photo: ODT files
The partners will form a new dredging company via a limited partnership agreement.
Port Otago is to manage and operate the dredge.
Chief executive Kevin Winders said the collaboration strengthened New Zealand's maritime infrastructure.
It would enhance operations at both ports and reduce duplication of investment within the sector.
The new Damen TSHD-1000 would be fitted with industry-leading dredging and monitoring systems.
Replacing the port's 40-year-old New Era suction hopper dredge with such advanced technology would improve operation efficiency, reduce its carbon footprint and allow it to operate with a lighter touch on nature, he said.
The dredge, expected to be operational by late 2026, would also provide the capability to respond to unforeseen events.
Following Cyclone Gabrielle, emergency dredging was critical to maintaining safe shipping channels and lifeline access for emergency supplies. - APL
