Government secures long term future for NAIF
The Albanese Government has secured the long-term future of the $7 billion Northern Australia Infrastructure Facility (NAIF), ensuring it will continue to invest in jobs and opportunities across the north for a further decade. Parliament has passed the Northern Australia Infrastructure Facility Amendment Bill 2026, which extends the NAIF’s investment period to 30 June 2036.
NAIF has invested in clean energy, affordable housing, agriculture and infrastructure developments that are transforming Northern Australia. NAIF has invested in upgrades to airports in the Northern Territory and North Queensland, affordable housing projects in Darwin, Cairns and Townsville, and the Kimberley Cotton Gin project in Kununurra which will develop a new export industry for northern Western Australia.
NAIF has invested $220 million in the Perdaman Urea Project in Western Australia. Perdaman is a gamechanger which will strengthen domestic fertiliser supply and Australia’s food security while supporting a multi-billion dollar export industry to feed the entire region. NAIF has also put up to $200 million into the Arafura Nolans Rare Earths project near Alice Springs.
Minister for Resources and Northern Australia Madeleine King said passage of the NAIF legislation through the Senate was another important milestone for NAIF, which has already delivered $3 billion in funds projects across Northern Australia. “Passing this legislation means NAIF will continue its work to invest in economic opportunities, create jobs and build stronger communities across Northern Australia,” Minister King said.
“NAIF has become a key part of the investment landscape across the north. More than $3 billion has been drawn down by project proponents. “NAIF capital is supporting more than 18,700 jobs and more than $279 million is invested to support First Nations businesses, which strengthens communities.
“A strong north means a strong Australia.” Assistant Minister for Northern Australia Senator Nita Green said the NAIF legislation passed the final stage in the Senate on Tuesday, giving certainty around NAIF’s ongoing role. “This bill means NAIF will continue to deliver for the people in the north, and ensues NAIF remains a stable, reliable and accountable source of finance for vital projects in Northern Australia,” Senator Green said.
“It is great news the bill has passed, and the NAIF is here to stay for the next decade.” Special Envoy for Northern Australia Luke Gosling said Northern Australia was crucial to the Albanese Government’s vision for a future made in Australia. “This legislation makes sure NAIF can keep partnering with business and communities to deliver transformational projects,” Mr Gosling said.
“At this stage, NAIF has supported 35 projects and 40 investment decisions, including 9 projects in the Northern Territory worth about $1 billion.” The legislation creates joint ministerial responsibility across the Minister for Northern Australia and the Minister for Finance, in line with best practice for Commonwealth Direct Specialist Investment Vehicles, and will ensure future reviews of the NAIF Act after 30 June 2029 and 30 June 2034.