More details has been offered on the $440 million resource logistics hubs to be established by the federal government in the Northern Territory as part of a budget commitment.
Deputy Prime Minsiter Barnaby Joyce visited the Northern Territory on Thursday to reveal details of the $2.6 billion set aside in the budget for infrastructure projects in the region.
The first $216.8 million will support a multimodal logistics hub in Tennant Creek, while $160 million and $63.2 million respectively will be used to develop logistics and agribusiness hubs at Alice Springs and Katherine.
Earlier this week Mr Joyce also revealed that $1.5 billion had been committed to new port infrastructure at Middle Arm. This includes a wharf and offloading facility and dredging of the shipping channel.
The Deputy Prime Minister, who is also the Minister for Infrastructure, Transport and Regional Development, said the investment would help unlock more of the resources in the Northern Territory.
“To make Australia as strong as possible as quickly as possible, we must continue to produce and sell products that create wealth. Through our investment in infrastructure in the Northern Territory, we are creating the mechanism by which businesses can make money from the products they produce,” Mr Joyce said.
“Only by having stronger and more efficient freight connections can the gold, zinc, bauxite and gas from the Northern Territory continue to generate the income that underpins our standard of living.”
When confirming the Port of Middle Arm investment, the Deputy Prime Minister said he remained committed to resource exports.
“Australians must embrace the fact that it is our resources sector that pays for the services and opportunities we all enjoy and without coal and gas and iron ore, we would be weaker and poorer. We are an exporting nation and we must continue to sell the products that make us wealthier and stronger,” he said.
Overall, the Northern Territory government estimates that infrastructure development in Middle Arm could attract more than $16 billion in private investment.
The federal investments are part of the government’s 11-year, $7.1 billion Energy Security and Regional Development Plan announced in the federal budget 2022-23. Of this, $2.6 billion has been set aside for investment in the Northern Territory, the most of any state or territory.
This includes $300 million for low emissions liquified natural gas, clean hydrogen production, and associated carbon capture and storage in Middle Arm. There is also $200 million for transport infrastructure at the Middle Arm Sustainable Development Precinct, and $110 million to upgrade the Tanami Road between the Northern Territory and Western Australia.
The federal budget also included a $700 million boost for regional manufacturing and supply chain projects through the Modern Manufacturing Initiative,
Do you know more? Contact James Riley via Email.