NQ Cowboys project in the running for $20m loan
The NAIF’s investment decision will now be considered by Northern Australia Minister Matt Canavan under the requirements of the NAIF Act.
Senator Canavan said the proposed facility had successfully progressed through NAIF’S due diligence stage of assessment and an Investment Proposal was now before him.
“This is the latest NAIF project proposal to hit my desk for consideration and one of several actively moving through the NAIF approvals process,” he Canavan said.
“The Cowboys are seeking a $20 million NAIF loan to help achieve liftoff for this fantastic project and (Member for Herbert) Phillip Thompson has championed the case at every opportunity.”
Other NAIF investments approved for the region include a $50 million loan to upgrade Townsville airport and about $96 million to build JCU’s Technology Innovation Complex.
The planned $50 million Community, Training and High-Performance Centre would be built near the new North Queensland Stadium, between Saunders St and Ross Creek in the Townsville CBD.
New Zealand-based Chatham Rock Phosphate has made a $12.3 million deal to acquire the Korella phosphate mine, 150km south-east of Mount Isa.The compan...