The Government has announced changes to the Northern Australian Infrastructure Facility’s (NAIF) infrastructure funding goalposts which will allow the NAIF to provide funds for a $300 million expansion of a number of airports in the Northern Territory. The investment will become the Northern Australia Infrastructure Facility’s (NAIF) largest investment to date.
The Federal Government’s $5 billion fund will provide half of the upgrade costs via a $150 million loan to expand airport facilities.
The development includes a cold storage and export hub at Darwin International Airport, construction of solar energy farms at Darwin, Alice Springs and Tennant Creek airports, and an off-site, multi-user battery located 80 kilometres from Darwin.
Alice Springs Airport will also undergo resurfacing works and lighting upgrades.
Minister for Resources and Northern Australia, Senator the Hon Matthew Canavan, stated “What we want to do is unlock these kind of economic game-changing opportunities in infrastructure for businesses across northern Australia.”
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