Fishing company Sealord is to buy a $70 million deep-sea fishing vessel, the country's first new deepwater fishing vessel in 20 years.
The new state-of-the-art ship is to be built in Norway and is expected to be delivered in mid-2018.
Sealord said the ship would mean up to 80 new jobs once it arrived.
It will be based in Nelson and it could be out at sea for up to 40 days.