MATT BRANN: Now, you mentioned the expansion of this farm, and today on National Barra Day, this farm has actually got some really exciting news. It's care of the Federal Government. To tell us what this news is, let's have a quick listen to the Federal Minister for Northern Australia, Keith Pitt.

(Excerpt)

KEITH PITT: Oh, it's good news for Humpty Doo Barra farms but it's good news for the Territory and good news for Australia. Today, I'm announcing that the Northern Australia Infrastructure Facility will be providing another loan to Humpty Doo Barramundi, this time to the tune of $24.2 million. That will provide for another expansion of what has been a fast growing and well recognised business. On National Barramundi Day, what a great choice.

MATT BRANN: You say it's good news for the Territory and for Australia. Why is that?

KEITH PITT: Well, firstly, there'll be 110 jobs as part of this increase in production and infrastructure facilities, and another 160 when the new hatchery is up and running. I mean, Humpty Doo is one of Australia's success stories, 300 kilos they put out in 1993, and in 2020, it's expected to be around 3600 tonne of product. Now, the barramundi, it's a national icon. It's National Barramundi Day. I mean, like Territorians, the barramundi is a fighting fish. And I think it's just an iconic species that- it's great if you're an angler. It's also great if you like it on the plate.

MATT BRANN: The farm is a private business. Why do you feel it is a good investment for the NAIF and for taxpayer dollars?

KEITH PITT: Well, the NAIF is a independent authority, so they make their own decisions in terms of the recommendations on projects that should be able to be provided with a loan. And it is a loan that we're looking to develop the north. We're looking to develop northern Australia. That's part of our very, very critical agenda for the north. In fact, I've just announced an extension of the Northern Australia Infrastructure Facility for five years and some significant changes, which will require legislation to go through the parliament. But this money will go towards saltwater grow out ponds, solar and other enhancements for infrastructure. And of course, that means more employment in the Territory, which is desperately need.

MATT BRANN: As you said, the NAIF's had a few changes. It's had a few reviews. Are you now happy with how it's currently performing or is there still room for a bit of improvement?

KEITH PITT: I'm one of those individuals that always looks for improvement. So, we're always looking to do better. The NAIF has committed around $2.4 billion out of $5 billion. So, they've made investment decisions for around $2.4 billion. I want to ensure that that remaining part, that $2.6 billion that's left can be delivered faster. I want to expand the eligibility criteria of what the NAIF can finance. We're looking to increase the risk appetite for the NAIF, and of course strengthen their governance as well. And I think there are always opportunities for us to do better. But the NAIF has committed some $860 million for projects in the Territory. That's good news, that investment, those loans are expected to provide the capital value of around one and a half billion dollars and 3,000 jobs. So, we're driving jobs in the north, we're driving the economy, and we're certainly looking to drive an economic recovery in the post-COVID environment.

MATT BRANN: I know in the federal budget there was a move. You got the $1.2 billion water infrastructure loan facility and turn it into more of a grants process, like just money in the hand, not a loan. Any chance the NAIF might head down a similar path, Minister?

KEITH PITT: Well, in fact, that water infrastructure facility is now worth around $3.5 billion. It sits with the Deputy Prime Minister, where we are clearly looking to build Australia's water grid. We're looking for the electricity grid, the gas grid. We've got significant money on the table to advance a strategic basin plan, like the ones in Beetaloo ...

MATT BRANN: [Interrupts] Oh yeah. I get all of that. I guess my question, like loans, like, is there any chance NAIF might go down that path of becoming a grants system?

KEITH PITT: Well, at the moment, the NAIF, as per its legislative agenda and what's been put in the legislation, is restricted to being a loans facility. And it's also restricted for types of- particular types of construction. I'm looking to expand those opportunities. To do that, I will need to get legislation through both the House of Reps and the Senate. That means we need support in the Senate. I'd like to think that the opposition will step up and certainly support those changes, because it is about driving jobs for the Territory and right across the north.

MATT BRANN: So, the NAIF has now backed Humpty Doo Barramundi not once, but twice. Out on the WA-NT border, the big proposed prawn farm out there, Project Sea Dragon, it's received nothing from the NAIF. Is it easy to explain why one aquaculture project's attracting more interest from the NAIF than another?

KEITH PITT: Well, the proponents of Project Sea Dragon, I mean, that is an enormous project, it's over a billion dollars from what I can recall. But the NAIF, as I've said, is an independent body that makes decisions that they then recommend for me- to me. I have a mandate to make a decision around whether I veto their recommendation or not, as do states and territories. It is a big project. Take a lot of work to put forward. And I've certainly had further engagement around Project Sea Dragon with the Northern Territory government and of course, the proponents. But once again, big projects are hard to get over the line, takes a lot of work and takes considerable amounts of time. But Humpty Doo Barramundi is a success story. I don't think we should ignore that fact. It is an absolute success story for the Territory.

MATT BRANN: And finally, Minister, I know you're in Queensland today. How are you planning to celebrate National Barramundi Day?

KEITH PITT: Well, unfortunately, I'll have to dream about catching barra. Tied up in the office. I'd love to sit down and have a fresh fillet. That'd be fantastic. But unfortunately, I'm tied up in my electorate office and been travelling for the next two days. So, I will be thinking about catching barramundi. And that opportunity might come around Christmas if we get a couple of days off.

MATT BRANN: Thanks for your time on the Country Hour.

KEITH PITT: Mate, great to be with you, great to be with your listeners.

(End of excerpt)

MATT BRANN: That's the Minister for Northern Australia, Keith Pitt, with some big news today for the Humpty Doo Barramundi farm, securing a $24.2 million dollar loan from the NAIF. And that goes on top of a NAIF loan that it received last year for about, I think it was about $7 million.

ENDS