Initial dredging work is about to begin on a new port and supply base in the Western Australian town of Onslow, thanks to a $16.8 million Northern Australian Infrastructure Facility (NAIF) loan.
The new Onslow Marine Support Base will provide logistics, fuel and waste management services to onshore and offshore oil and gas companies operating in the hydrocarbon rich Carnarvon Basin – which has some of Australia’s richest hydrocarbon reserves.
Work which would have previously been sent overseas is expected to be undertaken locally.
Construction of the facility is expected to create around 220 jobs and will boost the northern Australia economy. Maritime Constructions are preparing to commence dredging work with the specialist dredging vessel en route to Australia and the project is expected to be complete within 12 months.
NAIF is encouraging private sector investment in infrastructure projects and by partnering with the National Australia Bank on the Onslow port project, has brought the timeline forward three to five years which will fast track benefits to the region.
The Onslow Marine Support Base was NAIF’s first investment decision. It has been followed by announcements for a $96 million investment to build a technology innovation hub to boost enrolments in engineering courses at James Cook University in Townsville.
Over $7 million has been invested in the stage 1 expansion of Humpty Doo Barramundi aquaculture facilities south of Darwin. This investment has the potential to increase to $30 million over subsequent stages of expansion.
NAIF has also issued an indicative term sheet for potentially investing up to $516 million in the Genex Power Kidston project, north west of Townsville.