Northern Australia Infrastructure Facility gives $200m to projects

The Northern Australia Infrastructure Facility (NAIF) has announced two loan investments that total $200 million and will help grow infrastructure in Northern Australia.

The investments take NAIF’s total commitment in investment decisions or conditional approvals for infrastructure projects in Northern Australia to $1.18 billion.

Minister for resources and Northern Australia, Matt Canavan, said the investment highlights enormous commitment to regional Australia in general and Northern Australia in particular.

NAIF has confirmed approval for a loan of up to $150 million to Northern Territory Airports (NTA) and made an investment decision for a loan of up to $50 million for another project in North Queensland.

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“NAIF conditionally approved the loan to NTA in September 2018. It will fund infrastructure projects as part of a $300 million infrastructure expansion package across airport sites in Darwin, Tennant Creek and Alice Springs,” said Canavan.

“With the North Queensland project, details of this project currently remain commercial in confidence – while the proponent concludes commercial approvals and negotiations – but I expect to be able to announce details in coming weeks.

“This takes the total value of current NAIF loan commitments from investment decisions and conditional approvals to $1.18 billion, supporting projects with an estimated total capital value of $2.533 billion,” he said.

NAIF projects include the following:

Investment Decisions

Northern Territory Airports, NT, up to $150 million.

James Cook University, Queensland, up to $98 million.

Sheffield Resources Limited, WA, up to $95 million.

Commercial in confidence project, Queensland, up to $50 million.

Voyages Indigenous Tourism Australia, NT, up to $27.5 million.

Pilbara Minerals Limited, WA, up to $19.5 million.

Onslow Marine Supply Base, WA, up to $16.8 million.

Humpty Doo Barramundi Farm, NT, up to $7.18 million, with potential up to $30 million over three stages.

  • Total: $463.98 million

Conditional Approvals

Genex Power, Queensland, $450 – $516 million.

Amaroo (Verdant), NT, up to $160 million.

Commercial in confidence project, up to $25 million.

Commercial in confidence project, up to $90 million.

  • Total: $725 million

Combined total: $1.188 billion