New Zealand government gives Fletcher Building $60 million to keep cement plant running until 2040

The New Zealand government is putting $60 million into Fletcher Building to keep the country's only cement plant operating through at least 2040. The Portland plant near Whangarei supplies nearly 60% of domestic cement. Fletcher says it will invest at least $150 million of its own money by 2040, though the exact timeline and projects are still subject to internal approvals. Cement is one of the hardest industrial sectors to decarbonize because most emissions come from the chemical process itself, not just fuel. This deal raises questions about whether the funding comes with binding emissions reduction targets or just keeps a strategic asset alive. The article is behind a paywall so details on conditions are limited.