NZ quake bill may hit US$2.7b
Posted: 08 September 2010 1341 hrs

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WELLINGTON: The repair bill from the Christchurch earthquake is likely to reach four billion New Zealand dollars (2.7 billion US), the New Zealand Treasury said Wednesday, doubling previous official estimates.

"The cost faced by the EQC (Earthquake Commission), individuals, and insurance costs will probably be of the order of four billion dollars," Treasury Secretary John Whitehead told reporters.

-AFP/wk