Territory leaders gather to discuss regional infrastructure options

29^th September, Darwin, NT: The development of oil and gas infrastructure remains vital to the economic security of our country’s most rural economies.

Increasing its national share of LNG exports from virtually nothing to nearly 20% of all Australian LNG exports over the past decade, the Northern Territory has proven benefit to broad investment in its oil and gas sectors.

In line with these trends, engineering construction spending has more than doubled within the Northern Territory over the past year to more than $1.8 billion, contributing towards 18.6% of total Territory GSP according to the Northern Territory Department of Business.

These infrastructure projects have assisted in the Territory’s low 4.2 per cent unemployment rate, down 0.2 percentage points from the same period last year. Northern Territory labour participation also sits at 76.1% compared to 64.9% across the board.

Continuing this tradition of growth and prosperity, the Northern Territory government is committing $1.39 billion in the current 2015-16 budget to the wide scale construction of public infrastructure and services, in a bid to better develop opportunities available within the Northern Territory.

Territory government representatives along with industry executives from a wide range of infrastructure and construction sectors will gather at the Northern Territory Major Projects conference to review upcoming infrastructure projects within the region.

The annual event has proven central to the Territory’s major infrastructure projects’ strategic direction. Some major projects currently gaining traction include the North East Gas Interconnector (NEGI) Project, the development of East Arnhem Land, the Palmerston Regional Hospital Development and the Whittaker Street Development.

With targeted opportunities recently announced in the Agricultural Competitiveness White Paper, the government intends to offer $4 billion in investment to the development of the Northern Territory’s agricultural capacity. The white paper offers a $500 million National Water Infrastructure Fund to help secure farmers’ future water security, as well as extensive drought assistance.

Northern Australia receives on average more than 7.5 million litres of rainfall every year comprising of 60 per cent of the national total. With future infrastructure development, Australia’s agricultural industry in the country’s north will be able to irrigate 17 million hectares of arable land, 90 per cent of which current water infrastructure cannot sustain. 

The conference will feature over 25 key speakers from within government, as well as from local and global firms, including a panel discussion on the Agricultural Competitiveness White Paper and its impact on the Northern Territory, featuring Brent Finlay, President of the National Farmers' Federation, Carley Scott, CEO of Developing East Arnhem Land, as well as Tom Ryan, Executive Officer of the Northern Territory Cattlemen’s Association.

These initiatives contribute towards the Australian government’s 2030 vision of Northern Australia to accommodate for growing populations, in addition to the Federal government’s recently announced $5 billion loan program to promote infrastructure investment across the country.

China’s new Silk Road Policy is expected to play a huge role in promoting Darwin as Australia’s hub to Asia, and serve as a prominent port for business and agriculture exports. Chinese exports are worth more than $1.4 billion annually to the Northern Territory economy and have increased on average by 22 per cent year-on-year.

The Territory’s live export sector is also beginning to play a huge role in defining the role of Northern Territory agriculture, with the recent signing of a health protocol with China, making Australia the first country to open its live export industry to China.

The two day conference attracts close to 400 delegates annually and is endorsed by the Northern Territory government as an opportunity for industry leaders and government officials to share ideas on common challenges.

The 6th Annual Northern Territory Major Projects conference is being held at the Darwin Convention Centre on the 6^th & 7^th of October.