Australia seeks investors for Darwin port project

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Australia seeks investors for Darwin port project

Australia's Northern Territory (NT) wants to attract private investment to Darwin port and is contemplating developing a second port.

Flagstaff Partners, an Australian independent corporate advisory firm, has been appointed by Australia's Northern Territory Government to set a strategy for attracting private investment to Darwin Port. The report will look at:

  • Addressing the need for private investment in the existing Darwin port.
  • Investment options for a planned second port at Glyde Point, north-east of Darwin.
  • Reserving land for future strategic and heavy industry at Glyde Point.
  • Encouraging investment in a maritime industry park.
  • Encouraging investment in the redevelopment of other foreshore marine infrastructure.

Adam Giles, Chief Minister, stated:

We have asked these highly credentialed consultants to come up with a strategy to address the need for investment in Darwin's port facilities, the development of the Marine Industry Park and the potential redevelopment of other foreshore marine infrastructure. The strategy will help address the need for the development of a second port and the need to reserve land for future strategic and heavy industry.

Flagstaff is expected to finish its report within months, to allow the Territory Government to move forward with attracting investment later this year.

Port of Darwin, the main port and capital of Australia's Northern Territory, is located on Australia's north central coast, it lies on a peninsula at the northeast entrance of the Port Darwin Harbor. It is an inlet of Beagle Gulf off the Timor Sea. The port supports the surrounding pastoral and mining areas. Its economy also depends on a combination of government business and a variety of local industries that include tile and brick-making, oil exploration, uranium, fruit growing, exporting cattle, and pearls.

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