Northern Australia gets a $5 billion dollar investment boostThe Property Council of Australia welcomes the $5 billion dollar infrastructure investment boost to Northern Australia in the Federal Government’s 2015/16 Budget.Property Council NT Director Ruth Palmer welcomed the multi-billion dollar injection for the North that will see the establishment of a concessional loan facility and said the Territory was poised to be a major beneficiary.”The budget announcement further highlights Northern Australia’s potential for economic growth,” Ms Palmer said. “The concessional loan facility will encourage private sector investment in the Territory, which will further drive our economy and employment and will cater for our growing population.”Importantly, the budget identifies the key infrastructure needs to realise the NT’s growth potential.”The Federal Government’s recent report, Infrastructure Australia audit of northern Australia’s infrastructure identified that the population in Northern Australia will grow to 1.77 million by 2031.”The Property Council looks forward to working with the NT Government and Commonwealth agencies to ensure the private sector is fully engaged with the NT’s bright growth outlook and maximises the opportunities from this initiative.Media contact: Ruth Palmer | M 04 428 314 | E [email protected]
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