Katter hails NAIF support for energy

ROBBIE Katter has welcomed a conditional loan for a major North Queensland energy project from the Federal Government’s key regional development agency.

The Genex Power’s Kidston project, north of Townsville, is set to receive $ 516 million in funding from the Northern Australia Infrastructure Facility.

Mr Katter said the announcement highlighted the potential of North Queensland as a major infrastructure investment destination.

“It’s great to hear Genex has received conditional approval for a loan from NAIF,’’ he said.

“It shows the facility is keen to invest and I’m sure there is more to come given there are so many quality projects in the North and North West.’’

Mr Katter said there were huge opportunities for renewables and traditional industries, such as mining, if the right infrastructure investments were made.

“The minerals and energy supply chain between Townsville and Mount Isa is perhaps the biggest driver of the economic activity in the North,’’ he said.

“The resources extracted in the North West Minerals Province generate more than ten thousand jobs and billions of dollars in economic activity in Townsville and the North West through mining, processing, transport and associated services.”

Mr Katter said he hoped to see more out of NAIF in coming months.