Fast-track­ing in­vest­ment

NT News - - NEWS -

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

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