The Federal Government announced today that it had approved a loan of $155 million to North Queensland Airports for infrastructure upgrades at Cairns and Mackay airports.
Approved by the Northern Australia Infrastructure Facility (NAIF), the load will cover upgrades to the Cairns terminal, and fund a new aviation precinct including taxiways and hard stands.
At Mackay Airport, the loan will help deliver runway, apron and taxiway surface upgrades as well as a mixed retail and commercial precinct.
Minister for Resources and Northern Australia Madeleine King said the investment was fantastic news for those living and working in North Queensland.
“This funding will help make air travel faster and easier for people in North Queensland, connecting families and businesses to the rest of Queensland, the nation and the world," she said.
“Projects like this strengthen the economy of Northern Australia ... and a strong north means a strong Australia.”
North Queensland Airports CEO Richard Barker said the NAIF loan would enable investment in infrastructure that he believed will unlock growth at both Cairns and Mackay airports.
“The extensive infrastructure upgrades that will be assisted by this loan will set our airports up for ongoing success as our communities develop and grow,” he said.
“This loan recognises our airports’ critical roles across the Cairns and Mackay regions, contributing to tourism, freight, business, the resources industry and more.
"We are grateful for this support from the NAIF and look forward to showcasing these enhancements to locals and visitors.”
NAIF’s loan to North Queensland Airports brings the NAIF's total investments in Queensland projects to over $1.6 billion across all projects.
Townsville, Darwin, Tennant Creek, Alice Springs and Connellan (Ayers Rock) airports have also benefited from previous NAIF funding.