Hawke's Bay Regional Council has given the green light to partially privatising Napier Port

It's through an Initial Public Offer, and subject to pricing and market conditions.

The Council says a final decision on conditions will be made next month.

Council chair Rex Graham says the 45 per cent initial offer will deliver the funds to let the Port to invest in future growth - while protecting ratepayers from the costs.

The port needs a new wharf - estimated at 170 to 190-million-dollars - expected to be completed by 2022.