NTG announces ELA and PIIF investment

7 November 2019

Chief Minister Michael Gunner has today visited Nhulunbuy to announce major plans for the economic future of Northeast Arnhem Land and the Gove Peninsula.

The Paspalis Innovation Investment Fund has announced they will make an investment into the Arnhem Space Centre, which will be launching NASA rockets in 2020.

This investment will be key to getting the project off the ground and creating long-term jobs in the Nhulunbuy, Yirrkala and Gunyangara communities.

PIIF’s investment will enable Equatorial Launch Australia to undertake planning for NASA’s launches from the site in 2020.

The Chief Minister also announced that the Northern Territory Government will invest $45million into sealing the Central Arnhem Road, the major access road from central to Northeast Arnhem Land.

Most of the Territory Government’s investment will be delivered by dry season 2021, with an early works package to be delivered in the dry season 2020.

Sealing the road, and making it more accessible for more of the year will mean more long-term investment into the region and create jobs in industries Traditional Owners want to pursue including tourism, space and primary industries like forestry, fisheries and aquaculture going forward.

The Territory Government’s investment is in addition the $180million already committed by the Federal Government in the 18-19 budget.

The total $225million will mean around half of this important bush highway will be sealed, meaning better access for residents in communities like Nhulunbuy, Gapuwiyak and Bulman.

As noted by the Chief Minister, Michael Gunner:

“The Territory Labor Government believes in the future of East Arnhem Land and the Gove Peninsula.

The Arnhem Space Centre is a sign of things to come for the future of the Nhulunbuy and the North East Arnhem economy, and PIIF’s investment into the project is a show of confidence in the Territory’s economic future.

The $225million investment into the Central Arnhem Road will enable businesses in the region to create jobs in tourism, resources and space for years to come.”

As noted by Equatorial Launch Australia CEO, Carley Scott:

“As an active member of the Australian Investment Council, PIIF is an independent and qualified investor that understands what is required to succeed in the Territory.

The PIIF investment offer will deliver support to launch site planning. It provides a clear signal that the Arnhem Space Centre is a distinctive investment opportunity that is uniquely positioned to deliver economic growth not just for the Territory, but for the future of Australia

The Northern Territory has always offered exceptional geographic and business opportunities. The decision by PIIF to support ELA’s spaceport planning is historic. It clearly signals to government and investors that the Arnhem Space Centre is an opportunity worth getting behind . Importantly, it also shows that the time for government, investors and customers to engage, is now.

We share the enjoyment of the growing Arnhem Space Centre story with the Yolngu people, the Gumatj Corporation, DEAL, the East Arnhem community, and, all Northern Territory Government representatives who continue to look for opportunities to support the space industry and all it can inspire.”