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NAIF loan approvals top $1 billion

14 January 2019

Minister for Resources and Northern Australia Matt Canavan has welcomed two investment decisions from the Northern Australia Infrastructure Facility (NAIF) that see its project loan approvals top $1 billion.

“NAIF is announcing two loan investment decisions today that total $200 million and take its total commitment in investment decisions or conditional approvals for infrastructure projects in Northern Australia to $1.18 billion,” Minister Canavan said.

“This is a terrific achievement and highlights enormous commitment to regional Australia in general and Northern Australia in particular by the Liberal-Nationals Coalition Government."

Minister Canavan said that NAIF has confirmed approval for a loan of up to $150 million to Northern Territory Airports (NTA) and made an investment decision for a loan of up to $50 million for another project in North Queensland.

“NAIF conditionally approved the loan to NTA in September 2018. It will fund infrastructure projects as part of a $300 million infrastructure expansion package across airport sites in Darwin, Tennant Creek and Alice Springs.

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

“This takes the total value of current NAIF loan commitments from investment decisions and conditional approvals to $1.18 billion, supporting projects with an estimated total capital value of $2.533 billion.”

NAIF projects include the following:

Investment Decisions

Northern Territory Airports, NT, up to $150 million.

James Cook University, Queensland, up to $98 million.

Sheffield Resources Limited, WA, up to $95 million.

Commercial In confidence project, Queensland, up to $50 million.

Voyages Indigenous Tourism Australia, NT, up to $27.5 million.

Pilbara Minerals Limited, WA, up to $19.5 million.

Onslow Marine Supply Base, WA, up to $16.8 million.

Humpty Doo Barramundi Farm, NT, up to $7.18 million, with potential up to $30 million over three stages.

  • Total: $463.98 million

Conditional Approvals

Genex Power, Queensland, $450 - $516 million.

Amaroo (Verdant), NT, up to $160 million.

Commercial in confidence project, up to $25 million.

Commercial in confidence project, up to $90 million.

  • Total: $725 million

Combined total: $1.188 billion

Media contact: Minister Canavan's office 02 6277 7180