While the project's four partners had not yet agreed who paid for what, the port expected to fork out for a new Interislander terminal building, wharf, and seawall, as these were on its land.
Port Marlborough chair Keith Taylor told councillors at a meeting last month the port would need to enter into “a substantial amount of debt” to fund the proposed changes.
“Port Marlborough will be looking to its shareholder the MDC [Marlborough District Council] to fund this debt for us,” he said.
Taylor was speaking on the port's annual report, which declared the upgrades an “extremely significant investment”.