FEDERAL Government changes to the Northern Australia Infrastructure Facility are expected to fast-track infrastructure investment.
Resources and Northern Australia Minister Matt Canavan said the Government would amend the investment mandate of the NAIF to increase its flexibility and improve its potential to support projects that deliver more jobs and economic opportunities to Northern Australia.
The announcement comes the day after the NT Government opened the door to new onshore gas investment projects with the lifting of its fracking moratorium.
“The Government’s amendments will increase its flexibility and improve its potential to support projects in partnerstate ship with the private sector and northern jurisdictions,” he said. “In particular, these changes will increase the proportion of a project that NAIF can finance and expand the types of infrastructure that will be eligible.
“These changes will ensure NAIF is in the best position to help drive the infrastructure investment, in partnership with the private sector and governments, that delivers jobs in Northern Australia.
“There are currently 17 projects in the due diligence and execution phases across all three northern jurisdictions. There are seven in the Northern Territory, five in Western Australia and five in Queensland.
“There are 90 active inquiries in the pipeline. These are from diverse sectors including energy generation and gas pipelines, transport, tourism, agriculture, manufacturing, water infrastructure and communications.
“The report commends NAIF for developing this pipeline but recommends that removing some of the restrictions on NAIF could assist in bringing projects to financial close.”
“There are 90 inquiries in the pipeline”
RESOURCES MINISTER MATT CANAVAN