Queensland Airports Limited – Investment Decision
Redevelopment and expansion of the Townsville Airport Terminal.
NAIF’s loan to Queensland Airports Limited (QAL) contributes to QAL’s $80 million Project Alive, which includes substantial terminal refurbishment, and an upgrade to core infrastructure. These works build on airport apron works and minor terminal works undertaken last year. Project Alive will see the capacity of the departure lounge doubled, expanded security areas and the installation of self-check-in and bag-drop facilities.
The works funded by NAIF’s loan will fund four key construction packages comprising:
- Terminal redevelopment;
- Terminal front of house improvements;
- Terminal roof replacement; and
- Core infrastructure upgrades (water, fire and waste facilities).
Project planning and initial work is scheduled to commence in 2019, with work on the terminal beginning in 2020.
NAIF’s loan accelerates the delivery of the Townsville Airport terminal redevelopment which will underpin regional growth by addressing current capacity issues during peak times and provide for the airport’s expected growth in passenger numbers.
Indigenous Engagement & Outcomes
Townsville Airport will deliver participation, procurement and employment outcomes through its Indigenous Engagement Strategy (IES), including:
- 3% target for Indigenous employment associated with Project Alive (involving major contractors);
- facilitate successful tendering for up to two Indigenous businesses, or the targeted 3% of the value of procurement;
- regular engagement with the Bindal Peoples and Wulgurukaba Traditional Owners to build long-term, positive and meaningful relationships; and,
- mandatory cross-cultural awareness training for all staff.
* The financial assistance is subject to conditions including the finalisation of the Queensland Government’s consideration and agreement for the approved funds to be advanced.
Economic Impact and Public Benefit
- Independent analysis estimates that the infrastructure funded by the NAIF loan will generate around $94 million in economic benefits for the region over the next 30 years through additional regional visitor spend, traveller time savings and other benefits to the public.
- The project is expected to create 207 additional full-time equivalent jobs during construction and 50 full time equivalent operational jobs after the project is finished.
NAIF’s media release regarding the Investment Decision to Queensland Airports Limited can be found here