4 May 2016
The Government has extended the coverage of the $5 billion Northern Australia Infrastructure Facility.
Following detailed consideration, the facility will now include the wider areas of Exmouth and Carnarvon and the local government shires of Meekatharra and Wiluna, in Western Australia.
“Melissa Price has been integral to the extension of this facility by making strong representations on behalf of her constituents. This facility will help fund key economic infrastructure that will create jobs, enhance investment and grow the northern Australian economy. Western Australia represents a significant part of our north and will directly benefit from seeing this important facility established,” Minister Frydenberg said.
It is important to note that projects do not need to be entirely within the defined boundaries if they produce significant benefits to northern Australia, such as enhancing north-south connectivity.
Further, as noted in the Investment Mandate, the facility’s independent board, in making an investment decision, must consider a preference for a diversified portfolio with respect to geographical spread across the states and the Northern Territory.
“While the Tropic of Capricorn is often cited as the boundary between north and south, there are population centres and regions that are naturally considered part of northern Australia, like Gladstone in Queensland and Exmouth, Carnarvon, Shark Bay and the Gascoyne in Western Australia. These locations are all now specifically included in the NAIF legislation passed by the Parliament,” Minister Canavan said.
“I will continue to ensure the people in the north are represented strongly and loudly in Federal Parliament. There have been a number of new initiatives for the North West since this Government was elected, and I look forward to delivering more projects to the region for many years to come,” Ms Price said.
This facility is integral to the Government’s plan for the north and is a cornerstone of the Northern Australia White Paper. The NAIF will support the growth and establishment of infrastructure projects across the north, helping this vibrant region to reach its full potential.
Further information can be seen at: www.industry.gov.au/industry/Northern-Australia-Infrastructure-Facility