$5.6bn for Northern Australia07 July 2015 by News Desk
The $5.6bn re-development of Northern Australia will be boosted by a new ‘one-stop’ investment service to be based in Darwin.
“The development of Northern Australia is a core focus of the Australian Government. The new service will identify priority investment projects that will deliver immediate tangible benefits to residents, with the office set to focus primarily on major projects starting at $50 million and above,” said Warren Truss, Deputy Prime Minister and Minister for Infrastructure and Regional Development.
“When this is combined with our other commitments such as the $5 billion Northern Australian Infrastructure Facility and the $600 million Northern Australia Roads Package, residents will soon be seeing a much stronger region.”
Establishment of a ‘single point of entry’ office will ensure potential investors get help and assistance with the approval process, a single source of information on areas such as environmental assessment, reduce the cost of investment and allow projects to commence construction sooner rather than later.
Investors already face major hurdles when they are seeking to deliver major projects, with an often disparate and disjointed process confusing investors and slowing project delivery. The new MPAA—NT office, to be based in Darwin will open in January 2016.