Rail Minister Winston Peters is disputing the reported final cost of dumping the mega-ferries project - of 671-million-dollars

Peters argues the 449-million for infrastructure, project management, and wind-down costs isn't all lost, with elements still being used.

Settlement for cancelling the contract with a Hyundai shipyard for the two new inter-island ferries cost 144-million-dollars.

It brings the total paid to the boat builders, to 222 million.

He says that was actually lower than the 300-million originally provisioned.