BARRA FARM REELS IN NAIF FUNDING

A BARRAMUNDI farm near Darwin will become the first recipient in the NT to receive funds from the Northern Australia Infrastructure Facility, with almost $30 million to expand its business.

Humpty Doo Barramundi will receive $28.7 million, with an initial $7.18 million cheap loan from the fund and a similar amount from ANZ bank in the first stage of a $58 million larger expansion, it was announced yesterday.

The $5 billion NAIF aims to help develop northern Australia’s economy, but has been criticised with only one other project, a marine support base in WA, funded so far.

The initial payment of the $7.18 million loan will fund the first of a three-stage expansion program, which will include building a new solar farm and fish nursery.

Picture: MICHAEL FRANCHI Dan Richards, the owner of Humpty Doo Barramundi, with a farmed barra after funding from the Northern Australia Infrastructure Facility (NAIF) was announced for the farm.