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$300m support for marine industry in Darwin

NAIF’s $300m loan to the Northern Territory Government for the construction of a new Shiplift and associated marine infrastructure in Darwin harbour will consolidate Darwin’s position as a hub for marine maintenance and servicing in northern Australia.

The Shiplift will be situated on Northern Territory Government land in the East Arm precinct of Darwin harbour and 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 and will be used to lift vessels out of the water so they can be serviced, repaired or stored, including for safety during cyclones.

NAIF’s investment is forecast to deliver economic diversification, job creation, new roles for highly skilled workers and new opportunities for NT businesses.