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