Mys­tery NQ pro­ject gets funds

The Cairns Post - - NEWS -

A MYS­TERY north Queens­land pro­ject worth $50 mil­lion has been ticked off for fund­ing through the North­ern Aus­tralia In­fra­struc­ture Fa­cil­ity.

North­ern Aus­tralia Min­is­ter Matt Cana­van yes­ter­day wel­comed two new loan in­vest­ment de­ci­sions to­talling $200 mil­lion and tak­ing the to­tal amount of in­vest­ments or con­di­tional ap­provals be­yond the $1 bil­lion thresh­old.

North­ern Ter­ri­tory Air­ports has been ap­proved for $150 mil­lion to cover half the cost for a ma­jor ex­pan­sion, in­clud­ing a new ex­port hub and con­struc­tion of three so­lar farms.

“With the North Queens­land pro­ject, de­tails of this pro­ject … re­main com­mer­cial in con­fi­dence – while the pro­po­nent con­cludes com­mer­cial ap­provals and ne­go­ti­a­tions – but I ex­pect to be able to an­nounce de­tails in com­ing weeks,” Se­na­tor Cana­van said.

La­bor has re­peat­edly crit­i­cised the loan fa­cil­ity for only ac­tu­ally get­ting $5 mil­lion in fund­ing out the door so far.

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