Key step for Onslow marine project

The Onslow Marine Support Base’s financing through the Northern Australia Infrastructure Facility has reached a key stage, with the signing of loan documents for the project by the WA Government, as the lender of record.

NAIF chief executive Laurie Walker said this was the first loan signed for a project financed with the facility’s assistance.

“NAIF was established to develop world-class infrastructure that contributes to the generation of public benefit in northern Australia,” she said.

“Signing is the vital step before financial close can take place which will allow the OMSB to draw down on the funds to get construction under way and for the public benefit from this project to begin to flow.”

Ms Walker said the OMSB project was forecast to boost the State economy by up to $100 million over 10 years and create about 220 jobs.

“I am extremely pleased to see the collaboration between the Commonwealth and the State of Western Australia and NAB as the private sector lender to the project, demonstrated in reaching this point,” Ms Walker said.

“NAIF’s involvement in the project has accelerated the development by up to three to five years and brings forward the public benefit that the community will enjoy.”