Facility open to key hub projects

THE Northern Australia Infrastructure Facility could fund major rail or road projects feeding into the State Government’s proposed casino resort development in Cairns.

Each consortium making a bid for the Far North’s “global tourism hub” proposal will receive a document outlining how NAIF and its $5 billion chequebook can help bankroll their project and associated infrastructure.

It says NAIF can provide concessional finance to allow proponents to build extra infrastructure, increase the size and scope of their plans, or help fast-track projects proven to be economically sound.

“Whether this be infrastructure directly around the project site or other infrastructure for Cairns and the surrounding areas that may not directly connect to the site, NAIF is able to consider proposed infrastructure elements in the context of the broader project,” the document stated.

“It may also include training facilities or other social infrastructure associated with the hotels and entertainment precinct.”

NAIF said it would support any physical structure that enabled the flow of people, goods, services and information between buyers and sellers and increased economic activity and population in the region.

“Examples include: rail, communications networks, power, ports, airports, pipelines, roads, water networks, social infrastructure, multiuser supply chain infrastructure and training facilities and schools,” it continued.