The Government has offered up to $5 million to the liquidators of Ruapehu Alpine Lifts (RAL) to make sure this winter's Mt Ruapehu ski season can go ahead.

This was announced Monday afternoon by the Regional Development Minister Kiri Allan.

The company went into administration earlier and a rescue package failed when it was voted down by creditors.  

Allan says the scheme will allow time for liquidators to make a decision on the company's future.

“Ruapehu is a very significant part of the economy in the central North Island, accounting for around a tenth of regional GDP, or $100 million per year," Allan says.

"The season going ahead will save hundreds of jobs and support local tourism, the regional economy and the community, while a long-term solution is found."

She adds the money will provide workers and ski field-dependent businesses with some security.

Allan adds the Crown has also received a further expression of interest to take over the ski operations on the mountain from the central plateau iwi Tūwharetoa in addition to two other expressions of interest.

A final decision will be made by the liquidator, but Allan says Government is now considering the three bids for Government support, and the Ministry of Business, Innovation & Employment has been asked to research this matter further.