Ulsan-based Hyundai Mipo Dockyard (HMD) has been selected by KiwiRail as the preferred shipbuilder for two ferry newbuildings to replace three ageing Interislander ferries that sail between the North and South islands of New Zealand.
KiwiRail inked a letter of intent last month.
An official contract signing will take place in the middle of the year, with construction of the ferries slated to be underway by late 2022.
