NAIF loan boosts NT barra farm

NAIF loan boosts NT barra farm

News
Aa

A Northern Australia Infrastructure Facility (NAIF) loan will help a Northern Territory barramundi fishery expand.

Aa
Barramundi is one of Australia's most widely bought fish.

Barramundi is one of Australia's most widely bought fish.

A NORTHERN Territory barramundi farm will expand and create more job opportunities due to a Northern Australia Infrastructure Facility (NAIF) loan.

The NAIF funding will support the expansion of Humpty Doo Barramundi.

Federal minister for northern Australia Keith Pitt said the $24.2 million loan would allow the business to explore growing domestic and export market opportunities.

Humpty Doo Barramundi will use the NAIF loan, along with private finance through ANZ, to construct a hatchery for saltwater barramundi.

The fish is one of Australia's favourites while it is growing in popularity throughout Asia where it is prized for its mild flavour.

"The new funding will support around 110 jobs during construction, and a further 160 jobs when the new hatchery is up and running," Mr Pitt said.

Assistant Minister for Northern Australia Michelle Landry said the loan was NAIF's second investment in Humpty Doo Barramundi, following a $7.18 million loan for the pond and nursery facilities which were completed last year.

"NAIF has committed more than $2.4 billion to projects in northern Australia, including almost $860 million for projects in the Northern Territory which support a forecast 3,000 jobs," Assistant Minister Landry said.

Humpty Doo Barramundi chief executive Dan Richards said the NAIF and ANZ financing was a major boost for the company.

"We are pleased to be able to make this further investment towards making Australia self-sufficient in producing Australia's iconic salt water Barramundi, while creating new opportunities for our fellow Territorians," Mr Richards said.

Aa

From the front page

Sponsored by