The Durack community will benefit from the development of infrastructure in northern Australia through the Government’s $5 billion Northern Australia Infrastructure Facility.
The Turnbull Government has successfully passed legislation through the Parliament to enable this important initiative to commence in July this year.
With $5 billion available over five years, this facility is designed to provide financing for projects that will unlock opportunities for economic and population growth specifically in Australia’s north.
“With more than 40 per cent of Australia’s land mass but only five per cent of our population, we all know that northern Australia has enormous economic growth potential,” Ms Price said.
This facility is designed specifically for Australia’s north. Projects will need to either be located in northern Australia or significantly benefit our region and will be selected by an independent board who bring considerable expertise in finance, infrastructure, and on Australia’s north.
“Northern Australia faces unique challenges in infrastructure development, including a low population and delays resulting from the wet season. This $5 billion facility will provide funding for projects specifically designed for northern Australia that take into account these unique challenges.”
This important initiative is a cornerstone of the Northern Australia White Paper, which sets out the Government’s development plan to unlock economic and population growth opportunities across the north, including in Durack.
“This facility will provide financing to build the transport, energy, water and communications infrastructure needed to help develop our region. Through these projects we will create jobs, further investment, and realise the full economic potential of the north,” Ms Price said.
“I’m keen to work with our community to discuss what large, visionary projects our region needs so that we can pursue this financing and provide a boost to our region.”
If you would like further information about the Northern Australia Infrastructure Facility, please contact office of Melisa Price on 9192 7216.