Going for growth in the fertiliser industry
The Australian Government’s Northern Australia Infrastructure Facility (NAIF) has committed $255 million for critical infrastructure supporting the Perdaman Urea Project in Western Australia.
The $4.3 billion project located 20 kilometres north-west of Karratha will convert Australian gas into approximately two million tonnes of urea per year.
Minister for Agriculture and Northern Australia, David Littleproud MP said the NAIF commitment will help kickstart this new multi-billion-dollar industry.
“Australia currently imports around 2.4 million tonnes a year of urea for agricultural use, and the Perdaman project will have the capacity to meet 96 per cent of that volume,” Minister Littleproud said.
“The NAIF’s investment will provide farmers’ access to locally manufactured fertiliser, securing our agricultural production and boosting our exports.”
Minister for Defence Industry, Minister for Science and Technology, Melissa Price MP said the Perdaman plant is expected to provide an $8.5 billion public benefit to Northern Australia.
“This investment is great news for Karratha, Dampier and the broader region, this project will support a peak of 2,490 construction and operations jobs over its 40-year life,” Ms Price said.
Special Envoy for Northern Australia, Senator Susan McDonald said the NAIF has now made financing commitments of close to $3.2 billion to projects across Northern Australia, with around $1.3 billion of that for Western Australian projects.
“Our investment in Western Australian infrastructure projects is expected to inject $12.9 billion into the economy and create more than 4,380 jobs,” Senator McDonald said.
NAIF Acting CEO Amanda Copping said the NAIF is committed to supporting projects that bring economic growth to northern Australia.
“We are pleased that our latest two loans will support the diversification of the Pilbara economy by supporting significant domestic manufacturing and creating thousands of regional jobs,” Ms Copping said.
The NAIF commitment is being delivered through two separate loans:
· $160 million to the Pilbara Ports Authority for a new multi-user wharf and facilities at the Port of Dampier to facilitate exports, and
· $95 million to the Western Australia Water Corporation for the expansion of the Burrup seawater supply and brine disposal scheme that will also service the operation of Perdaman Urea Plant.
The Perdaman Urea Plant is considered transformational for Western Australia, having been awarded Major Project Status by both the Australian and Western Australian governments.