Darwin Shiplift Project
Construction of an open access multi-user ship lift facility and associated marine industry infrastructure (Investment Decision November 2019)
NAIF’s $300 million loan to the Northern Territory Government is for the construction of a new Shiplift, and associated marine infrastructure in Darwin harbour which will consolidate Darwin’s position as a hub for marine maintenance and servicing in Northern Australia. Contractual close on the deal was announced in November 2020.
About the Project
A loan of $300 million from NAIF will go to the Northern Territory Treasury Corporation towards the overall $400m project cost. The Northern Territory Government has committed to contribute the remaining $100m towards the project.
The Shiplift will be situated on Northern Territory Government land in the East Arm precinct of Darwin harbour, the Shiplift will be operated by the Paspaley Group.. A statutory open access and pricing arrangement will ensure common-user access to the facility for all other vessel owners and operators in the region.
The Shiplift will be capable of servicing large vessels from industries including coastal shipping, offshore petroleum, fishing, pearling, Defence and Border Force – being used to lift vessels out of the water so they can be serviced, repaired or stored, including for safety during cyclones.
The Shiplift will be 103m in length and be able to lift vessels up to 5,000 tonnes in weight . The facility will include four wet berths and 20 hectares of hard stand area for repair and maintenance works. These additional facilities will reinforce the city’s marine maintenance and servicing activities and create spinoff benefits for local businesses.
The Value NAIF Brings
Darwin harbour is the only functional deep water harbour in Northern Australia. Without this facility large vessels would need to travel around 10 days or more to be serviced elsewhere.
NAIF’s value is to provide longer term funding and flexibility around the drawdown and repayment structure of the project. NAIF’s investment is forecast to deliver economic diversification, job creation, new roles for highly skilled workers and new opportunities for NT businesses.
Indigenous engagement commitments including ongoing engagement with the Larrakia and agreed Terms of Reference covering specific economic opportunities arising from the project during construction and operational phases and cultural heritage. A commitment to the Northern Territory Government’s Aboriginal employment target of 16% within the project team and procurement opportunities aligned with the Northern Territory Government’s Territory Benefit Plan.
Economic Impact and Public Benefit
NAIF’s investment is forecast to deliver economic diversification, job creation, new roles for highly skilled workers and new opportunities for NT businesses.
A total of 100 construction jobs are forecast to be created through the project with more forecast to follow during operations.
Indigenous engagement commitments including ongoing engagement with Larrakia and agreed Terms of Reference covering specific economic opportunities arising from the Project during construction and operational phases and cultural heritage, a commitment to the Northern Territory Government’s Aboriginal employment target of 16% within the Project team and procurement opportunities aligned with the Northern Territory Government’s Territory Benefit Plan.