The Northern Australia Infrastructure Facility (NAIF) has announced it will support the $300mn expansion of Northern Territory Airports in Australia.
NAIF will provide its largest investment to date by offering half of the funding for the expansion project with a loan of $150mn. The remaining $150mn will be provided by Northern Territory Airports.
The development plans include a cold storage and export hub at Darwin International Airport, and resurfacing and lighting upgrade works at Alice Springs Airport.
The financing will also be used to install solar farms at both the Darwin and Alice Springs airports, as well as Tennant Creek Airport.
Darwin International will also receive a multi-user battery located approximately 80km away from the site.
“Benefits will be delivered for the Northern Territory through the project,” commented Laurie Walker, CEO of NAIF.
“There are expected to be up to 1,000 jobs generated through the construction phase, supporting approximately 500 indirect jobs through the supply chain with over 140 new on-going positions.”
“What we want to do is unlock these kind of economic game-changing opportunities in infrastructure for businesses across norther Australia,” Matthew Canavan, the nation’s Minister for Northern Australia and Resources, informed ABC Radio Darwin.