The Northern Australia Infrastructure Facility (NAIF) will invest $300 million into the largest ship lift in Northern Australia, to be built in Darwin.
The Northern Territory Government will contribute the remaining $100 million for the project, which is expected to bring $260 million into the Northern Territory’s economy each year and generate 400 direct and indirect jobs.
Measuring in at 103 metres, the lift will be able to service large vessels from industries such as offshore petroleum, fishing, pearling, defence and border protection. Around 100 jobs are expected to be created during construction, with more expected to be generated in the ship building and repairs and maintenance industry.
The $300 million NAIF loan to build the ship lift will be made to the Northern Territory Treasury Corporation.
A Northern Territory Government ship lift team is working towards starting implementation. The project will be overseen by the ship lift project team Executive Director who reports to the Department of Trade, Business and Innovation CEO.
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A competitive construction tender process is expected to being in June this year. Construction is scheduled for 2021 and is expected to take two years.
Darwin is the only functional deep water harbour in Northern Australia. Currently large vessels travel 10 days to be serviced in another town.