This is just the beginning of the NAIF success story in the Territory.

THE $50 million stage 2 expansion of the Humpty Doo Barramundi farm is a firm reminder of the importance of the Northern Australia Infrastructure Facility

THE $50 million stage 2 expansion of the Humpty Doo Barramundi farm is a firm reminder of the importance of the Northern Australia Infrastructure Facility.

The NAIF, as it is known, is the federal government’s $5 billion lending facility to finance projects to complement private sector investment in Northern Australia.

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It is a key partner in the development of Northern Australia, whether through loans to new projects, working with existing financing partners or bringing together stakeholders to develop new initiatives.

It is because of NAIF backing, a family run Humpty Doo business is now an Australian success story.

Humpty Doo Barramundi, owned and operated by the NT’s Richards family, has showed drive and courage to set up the business in a market where about 60 per cent of the barra Australians eat has been imported. The Richards were granted the Territory’s first Northern Australia Infrastructure Facility loan in 2018. It received an NAIF loan of $7.18m for pond and nursery facilities.

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This will now put their second loan of $24.2 million to work.

The expansion will create 169 construction jobs and about 280 ongoing operational jobs. There are currently about 120 people working directly for the farm and it is working with 60 local businesses.

And this is just the beginning of the NAIF success story in the Territory.

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