At least $8 billion worth of Queensland projects are in line for a major infrastructure funding boom as the Turnbull Government bolsters the future for the north.
The Courier-Mail can reveal 25 projects in the state have applied for funds under the $5 billion Northern Australia Infrastructure Facility (NAIF), whose newly announced board – half of them from Queensland – will now begin assessing the winners as reported by the Courier Mail.
Among priority projects are the Burdekin Falls Dam expansion, the Cairns Airport expansion, Nullinga Dam in Cairns, Rockhampton Airport works, Urannah Dam, the Port of Townsville extension, Townsville Eastern Access Rail Corridor for bulk freight, and telecommunications projects.
It is understood the Townsville Stadium has not applied, despite former prime minister Tony Abbott suggesting it might qualify.
The NAIF will partially fund projects by tipping in a minimum of $50 million alongside private investors, with money able to begin flowing from July 1 – one day before Australians go to the polls.
Federal Minister for Northern Australia Josh Frydenberg yesterday lauded the opportunities available as he announced the new board.
“From July, this facility will provide financing to build the transport, energy, water and communications infrastructure needed in our north,” Mr Frydenberg said.
“This will create jobs, enhance investment and unlock the full potential of this vibrant region to grow the northern Australian economy.”
In addition, the Government is giving $100 million to Geoscience Australia to map unexplored areas of the north for minerals, energy and groundwater. To read more click here.
The Developing Northern Australia Conference Above the Line – unleashing the north’s potential will be held on 20-22 June 2016 at Darwin Convention Centre.
The Conference continues the dialogue started in 2015 following the release of the Australian Government’s White Paper on Developing Northern Australia. To register your attendance at the conference CLICK HERE. Early bird registrations close tomorrow 6 May 2016, so be quick to receive a discounted rate.