Queensland projects vie for share of $5 billion Northern Australia Infrastructure Facility fund

MORE than 20 Queensland projects worth $8 billion are in line for a funding boost, but a big-ticket item has been left off the list.

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AT LEAST $8 billion worth of Queensland projects are in line for a major infrastructure funding boom as the Turnbull Government bolsters the future for the north.

The Courier-Mail can reveal 25 projects in the state have applied for funds under the $5 billion Northern Australia Infrastructure Facility (NAIF), whose newly announced board – half of them from Queensland – will now begin assessing the winners.

Among priority projects are the Burdekin Falls Dam expansion, the Cairns Airport expansion, Nullinga Dam in Cairns, Rockhampton Airport works, Urannah Dam, the Port of Townsville extension, Townsville Eastern Access Rail Corridor for bulk freight, and telecommunications projects.

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It is understood the Townsville Stadium has not applied, despite former prime minister Tony Abbott suggesting it might qualify.

The NAIF will partially fund projects by tipping in a minimum of $50 million alongside private investors, with money able to begin flowing from July 1 – one day before Australians go to the polls.

Federal Minister for Northern Australia Josh Frydenberg yesterday lauded the opportunities available as he announced the new board.

“From July, this facility will provide financing to build the transport, energy, water and communications infrastructure needed in our north,” Mr Frydenberg said.

“This will create jobs, enhance investment and unlock the full potential of this vibrant region to grow the northern Australian economy.”

In addition, the Government is giving $100 million to Geoscience Australia to map unexplored areas of the north for minerals, energy and groundwater.

More than 20 Queensland projects have applied for Northern Australia Infrastructure Facility funds including the Port of Townsville extension.

The Government believes the mapping will encourage companies to do their own more detailed exploration if they already know they are likely to find a large deposit.

“The resources sector continues to play an important role in our economy, representing around 10 per cent of Australia’s gross domestic product, and more than 50 per cent of our exports,” Mr Frydenberg said.

A similar study in 1996 helped identify the $70 billion Ichthys field in the Browse Basin in WA, and data compiled in the 1960s helped identify the potential of South ­Australia’s Olympic Dam and ore more than 300m underground.

Originally published as Queensland projects vie for share of $5 billion Northern Australia Infrastructure Facility fund