Landry Calls on Queensland Government to Apply for NAIF Loan for GKI Revitalisation

Federal Member for Capricornia Michelle Landry has called upon the Member for Keppel and the Queensland Government to apply for funding through the Northern Australia Infrastructure Facility (NAIF), to finance upgrades on Great Keppel Island.

The calls come after Altum Constructions announced its lodgement of their Financial and Managerial Capability Assessment (FMCA) to the Queensland Government on Monday.

Ms Landry said there are misunderstandings about what the loan facility does and how the loan process works.
“Despite the Member for Keppel’s assertions, it is not a bucket full of money that can be distributed at her beck and call.

“In fact, the Queensland Government and Altum Constructions would need to apply for a loan and have the NAIF Board conduct their independent due diligence on that proposal.

“Myself, the Federal Government and NAIF are not in the business of throwing taxpayer money at projects without conducting the proper background research and essential due diligence.”

Ms Landry reiterated her position and support for a project of this scale in Capricornia.
“I want to see Great Keppel Island reach its full potential as a much sought after tourist destination on the Capricorn Coast.

“I think any major project of this size will be a welcome boost to the area, both through the expected increase in tourist numbers and permanent jobs.

Ms Landry also said projects backed by NAIF loans have already started to come to fruition in Capricornia.
“We’re expecting within the week that the Queensland Government will overcome its last hurdle and execute agreement with us to Signature OnFarm Beef receiving a $25 million NAIF loan.

“This loan will help with the construction of a specialist beef processing facility and on-site employee accommodation, near Clermont.

“The project will support the local industry by reducing freight costs, cutting the number of trucks on the road, and providing training and development opportunities, with a focus on retaining local young people in the beef industry.

“During this time of uncertainty, approval and commencement of key economic infrastructure projects will provide important jobs and business confidence and potential job opportunities in the north.

“I am therefore urging the Member for Keppel and the Queensland Government to work with the NAIF to bring forward commencement of approved projects, where possible, to create jobs and regional economic benefits.” Ms Landry said.

NAIF Key Facts
https://naif.gov.au/about-naif-finance/naif-key-facts/

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