Voyages Indigenous Tourism Australia – Investment Decision

Voyages Indigenous Tourism Australia – Investment Decision

Connellan Airport at Yulara, Northern Territory

NAIF loan Total project value
$27.5m over 20 years $27.5m

Infrastructure
Airport runway, taxiway and apron upgrade, runway lighting and provision of contractor accommodation.

 

NAIF’s Value

NAIF’s loan tenor better matching the long term asset life was not available in the commercial banking market.

NAIF’s ability to take a long term view in structuring its repayment profile allows the Proponent to use its short to medium term cash flow on other high-value projects that support Voyages’ social purpose of creating opportunities for Indigenous Australians through cultural tourism.

Indigenous Engagement

The project will continue to support Voyages’ purpose of increasing Indigenous employment in the tourism sector.

The project has a target of 3% to 5% of goods and materials sourced from companies that are 50% or more Indigenous owned.

Project construction employment targets are for Indigenous people to be greater than 10% of the workforce.

Australian Industry Participation

Australian Industry Participation (AIP) requirements ensure full, fair and reasonable opportunity for Australian industry to compete for work. This includes work in major public and private projects in Australia, and procurements or projects receiving Australian Government funding of $20 million or more.

NAIF projects much comply with the Commonwealth’s AIP policy.

The AIP Plan developed by Voyages Indigenous Tourism Australia is available here.

 

Construction work is underway. See here.

A Case Study factsheet on Voyages Indigenous Tourism Australia can be viewed here.

Economic Impact and Public Benefit

  • Employment support for approximately 320 jobs with the airport continued operations.
  • The airport is a key economic enabler for the Yulara region, particularly tourism to the world heritage Uluru and Kata Tjuta National Park.
  • Continued availability of emergency services and flights for remote communities in the region.