NAIF loan approvals top $1 billion
14 January 2019
Minister for Resources and Northern Australia Matt Canavan has welcomed two investment decisions from the Northern Australia Infrastructure Facility (NAIF) that see its project loan approvals top $1 billion.
“NAIF is announcing two loan investment decisions today that total $200 million and take its total commitment in investment decisions or conditional approvals for infrastructure projects in Northern Australia to $1.18 billion,” Minister Canavan said.
“This is a terrific achievement and highlights enormous commitment to regional Australia in general and Northern Australia in particular by the Liberal-Nationals Coalition Government."
Minister Canavan said that 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.
“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.
“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.”
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.
Joint media release with Senator for Queensland, The Hon Ian Macdonald, and Member for Dawson, George Christensen MP
More than 200 local jobs, extra flights and greater tourism activity are expected to flow from a $50 million investment in Townsville Airport by the Coalition Government.
Industry data published in a new report show Australia’s mining boom is still going strong, Minister for Resources and Northern Australia Matt Canavan said today.
Oil and gas companies have paid a total of $11.1 million for cash bid permits to secure the right to explore three areas offshore Western Australia and Victoria for the next six years.
(20min delay)
