Japanese businesses ‘very interested’ in NT investment, Chief Minister says
Japanese companies are reportedly “very interested” in investing in the Northern Territory, the NT News can reveal.
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JAPANESE companies are reportedly “very interested” in investing in the Northern Territory, the NT News can reveal.
It comes as Chief Minister Natasha Fyles provided an investment briefing for about 20 businesses on the last day of her trade trip in Japan.
The Chief Minister highlighted exciting opportunities in the Territory’s key sectors, including clean energy, critical minerals and aerospace.
It’s understood some of the organisations that attended included Chiyoda, Japan-Australia Business Cooperation Committee, INPEX, Nissui, Osaka Gas and Tokyo Gas.
Ms Fyles said she talked about the diversification of economic investment.
“The Territory’s large land mass and strategic location, high solar irradiance, large reserves of natural gas, access to base and critical mineral deposits, affordable and reliable renewable energy provide the Territory a growing competitive advantage,” she said.
“This week’s briefing provides an opportunity for the Territory to be on centre stage. We are a vibrant population with immense potential.”
Ms Fyles told companies the NT government was supporting projects to reach final investment decisions faster.
They were developing opportunities to take to market and targeting new private investment opportunities, she said.
Ms Fyles left Japan on Thursday.
IT’S OFFICIAL: Amphibious aircraft to be built in NT
THE Territory will officially become Australia’s first manufacturer and exporter of the Albatross G-111T amphibious aircraft.
In Japan this week, Chief Minister Natasha Fyles was invited to the signing of a partnership between Amphibian Aerospace Industries and ShinMaywa.
The companies will work together to develop an amphibian aircraft manufacturing hub in Darwin.
ShinMaywa manufactures the US-2 amphibious aircraft in Japan and is one of the few producers in the world.
The NT government is investing up to $10m into Amphibian Aircraft Holdings Pty Ltd to build upgraded versions of the Albatross in Darwin.
The money is being invested through the Local Jobs Fund and includes an agreement between AAH and engine manufacturers Pratt & Whitney Canada.
AAI is forecasting an annual revenue of $100m by the end of the decade, once the manufacturing hub is established.
The Albatross has not been commercially manufactured since the 1960s. The Albatross can take off and touch down in land, snow, ice and water.
Ms Fyles said the project’s progression was a boon for the Territory.
“This investment is building a brand new industry for the nation right here in Darwin,” she said.
AAH chairman Khoa Hoang said the aircraft would prove vital for transport.
“The G-111T will bring a much-needed transport capability to many countries to help in moving people, medical supplies, goods and services to remote and isolated communities,” Mr Hoang said.
While in Japan, Ms Fyles also signed a commitment statement with Inpex Corporation for a transition to net zero emissions.
The non-binding agreement includes establishing renewable energy targets and technology, increasing stable and clean energy supply for the Asia/Oceana region and creating a multi-user carbon capture and storage hub at Middle Arm.
Inpex president and chief executive Takayuki Ueda said the company was committed to a cleaner energy future.
“We are proud Ichthys LNG is contributing to positive outcomes in the Northern Territory,” Mr Ueda said.
“We believe industry-government collaboration is a powerful enabler for sustainable economic development and Inpex is focused on playing a leading role as an operator in the proposed Darwin-based carbon capture and storage hub.
“Our commitment to shaping a cleaner future, also include achieving net-zero carbon emissions by 2050 in our upstream operations and a 30 per cent reduction in our net carbon intensity by 2030 over 2019 levels.”
Chief Minister heads to Japan
CHIEF Minister Natasha Fyles will meet with major companies in Japan this week to pursue economic opportunities.
Ms Fyles will be joined by Investment Commissioner Andrew Cowan and meet with INPEX, Japan’s New Energy and Industrial Technology Development Organisation and the Japan Aerospace Exploration Agency.
Ms Fyles will also hold a briefing at the Australian Embassy, speaking on clean energy, critical minerals and aerospace, and meet with Amphibian Aerospace Industries and Osaka Gas.
“This week we’ll be face-to-face with some of the biggest investors in Japan to expand projects in the Territory,” she said.
“We appointed the Territory’s very first Investment and Major Projects Commissioners to capitalise on the next big opportunities for the Territory – and from amphibious aircraft manufacturing to the expansion of the Ichthys LNG processing facility – we are already seeing the benefits and exciting new opportunities from this.”
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