Key step for OMSB project

Pilbara News - - NEWS -

The Onslow Ma­rine Sup­port Base’s fi­nanc­ing through the North­ern Aus­tralia In­fra­struc­ture Fa­cil­ity has reached a key stage, with the sign­ing of loan doc­u­ments for the project by the WA Govern­ment, as the lender of record.

NAIF chief ex­ec­u­tive Lau­rie Walker said this was the first loan signed for a project financed with the fa­cil­ity’s as­sis­tance.

“NAIF was es­tab­lished to de­velop world-class in­fra­struc­ture that con­trib­utes to the gen­er­a­tion of public ben­e­fit in north­ern Aus­tralia,” she said.

“Sign­ing is the vi­tal step be­fore fi­nan­cial close can take place which will al­low the OMSB to draw down on the funds to get con­struc­tion un­der way and for the public ben­e­fit from this project to be­gin to flow.”

Ms Walker said the OMSB project was fore­cast to boost the State econ­omy by up to $100 mil­lion over 10 years and cre­ate about 220 jobs.

“I am ex­tremely pleased to see the col­lab­o­ra­tion be­tween the Com­mon­wealth and the State of Western Aus­tralia and NAB as the pri­vate sec­tor lender to the project, demon­strated in reach­ing this point,” Ms Walker said.

“NAIF’s in­volve­ment in the project has ac­cel­er­ated the de­vel­op­ment by up to three to five years and brings for­ward the public ben­e­fit that the com­mu­nity will en­joy.”

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