Retrospective consents have been granted to bulk storage company Marstel Terminals for its acquisitions of leasehold land at South Port in Bluff, Ports of Auckland and the Auckland Waterfront Development Agency.
In decisions released by the Overseas Investment Office last week, Marstel Terminals, a New Zealand company specialising in bulk storage and handling of hazardous and non-hazardous products, was granted three consents.
The lease values reported in the OIO decision summaries were $1.1 million for South Port, $2.33 million for Ports of Auckland and $15.9 million for the Auckland Waterfront Development Agency.
The South Port acquisition goes back to early 2009, when Marstel spent $2 million to ship a 75-tonne holding tank from Wellington to Bluff to store caustic soda, to be used at Fonterra's Edendale plant.
Founded in 1987, privately owned Marstel Holdings Ltd's shareholders are Graham and Anne Catley, who have a 50% stake in the company, the State Authorities Superannuation Trustee Corporation of Australia with a 45% stake, and Oleate Pty Ltd, of Australia, which holds a 5% share.
In New Zealand, Marstel has five operating terminals: in Bluff; Gabador Pl, Freemans Bay and the Wynyard Precinct in Auckland; and in Mount Maunganui with the Port of Tauranga.
In Australia, Marstel has four operating terminals: in Altona in Melbourne; Bell Bay in Northern Tasmania; Coode Island (Melbourne); and at Port Alma in central Queensland.
