Ship Lift receives funding from NAIF
The Northern Australia Infrastructure Facility (NAIF) is making an investment decision of $300 million funding towards the ship lift project.
Located at East Arm, the ship lift will bring $260 million into the Northern Territory economy every year and generate 400 direct and indirect ongoing jobs during operation through the expansion of the ship building and repairs and maintenance industry - it will also create 100 jobs during construction.
The 103m ship lift will be capable of servicing large vessels from industries including offshore petroleum, fishing, pearling, Defence and Border Force - being used to lift vessels out of the water so they can be serviced, repaired or stored, including for safety during cyclones.
Darwin is the only functional deep water harbour in Northern Australia and without this facility, large vessels travel 10 days to be serviced in another town.
The in-principle agreement between the Northern Territory Government and Paspaley will result in the ship lift constructed on government-owned land, operated by Paspaley under a 10-year renewable agreement.
Construction is set to commence in 2021.