More details could be coming this week about the procuring company for the Interislander ferries.

In December last year, the Government announced it would set up a company to procure the ferries, freeing up Kiwirail. 

It's committed to a March deadline. 

Finance Minister Nicola Willis says she believes Minister-in-Charge Winston Peters has a handle on the process - and will be incorporating once the directors are appointed.

She says her alternative procurement plan is ready to go as a fallback.

"The Minister for Rail is doing the right thing, he is comparing that option with what else might be out there and he's running the process to do that."

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