Charles Darwin University Project in NAIF Due Diligence
The Northern Australian Infrastructure Facility (NAIF) is working with Charles Darwin University (CDU) on a potential loan to help boost education facilities in Darwin’s CBD through the establishment of a new campus including teaching, research and facilities. The project is currently in the due diligence phase of NAIF’s assessment.
The Project forms part of the process of the Darwin City Deal announced by the Prime Minister, the Hon Scott Morrison MP, on 16 November 2018.
Ms Laurie Walker, NAIF’S Chief Executive, said: “We are pleased to confirm we are working with Charles Darwin University. Education and training is an important priority for NAIF as part of our objective to support growth in the economy and population of northern Australia.”
CDU through its expansion plans will support employment, activity and growth across Darwin.
Since coming into operation two and a half years ago, NAIF has announced funding for a range of projects across the Northern Territory totalling $185 million. This includes:
- a loan of up to $7.18 million to Humpty Doo Barramundi (HDB) Farm for the first stage of a proposed three stage infrastructure project, involving construction of a solar farm, medium fish nursery and feed systems. There is potential for NAIF to invest a total of $30 million across the three stages of the project which will help grow the aquaculture sector in the Northern Territory.
- a loan of up to $27.5 million to Voyages Indigenous Tourism Australia, operator of the Ayers Rock (Connellan) Airport. This will ensure the continued availability of emergency services and flights for remote communities in the region and also support new opportunities for Indigenous employment and engagement through cultural tourism.
- A $150 million Conditional Approval to Northern Territory Airports (NTA) as part of a $300 million infrastructure expansion package across airport sites in Darwin, Tennant Creek and Alice Springs. NAIF continues to work with NTA before a final Investment Decision can be made. The project involves an estimated 1,000 jobs generated through the construction phase, supporting approximately 500 indirect jobs through the supply chain with over 140 new on-going positions.
More broadly across the north of Australia, as of early November 2018, the total value of NAIF loan commitments (including conditional approvals) to date is $1.035bn. The estimated total capital value of those projects is $2.333bn. The amount of public benefit forecast to be generated by NAIF-supported projects is $1.9bn (noting this does not yet capture all the benefit from the conditional approvals).
Over 2,870 direct jobs are currently forecast to be generated across NAIF-supported projects (not including the many additional indirect jobs that will be generated).
“This demonstrates the important role of NAIF in acting as a catalyst for accelerating infrastructure development across the north.” Ms Walker said.