GLOBAL HUB CAN CASH IN

NAIF tells casino resort developers – we could show you the money

THE Northern Australia Infrastructure Facility is opening its arms and $5 billion bank vault for developers to beef up proposals to create a “Global Tourism Hub” in Cairns.

The Queensland Government announced the integrated casino resort plan just before the state election, offering up 4.4ha of stateowned waterfront land in the Cairns City Port precinct for the successful bidder.

NAIF chief executive officer Laurie Walker has told a Senate inquiry her organisation would play an active role in providing concessional loans to increase the scale of the successful project – as long as it was deemed a sound long-term investment for the Federal Government.

“It’s a State Government-run process and we’re collaborating again on that project,” Ms Walker said.

“We actually think that’s an incredibly exciting project.

“It is about attracting international entities with a view to expand the tourism offering for Queensland.”

A registration of interest process closed on January 23 with more detailed expressions of interest to follow. The finished product will largely be determined by what ideas proponents come up with, although it is unlikely it would reach the desired scale without a casino being involved.

“This is a process within a process, if you like,” Ms Walker said. “The Queensland Government is calling for bids.

“We will work with them and with proponents that may benefit from NAIF funding.

“It’s a project which can have benefit within the precinct that they’ve identified, but also outside that precinct.”