Investing in Darwin
A Resource Driven Boom Town
Our Key Project: Friday 13th January 2012, we received final investment decision on the $34 Billion INPEX Project in the Ichthys Basin, where gas will be pumped to Darwin for the next 40 years. The investment in this 1 project equals 5 years of the Gross domestic spend for the NT.
In the 2011, there was $200 Million spent on mineral exploration in the NT with $250 Million anticipated in 2012.
Currently there are 12 LNG gas fields outside the INPEX project being explored. One of which is equal in size to Ichthys and is being pursued by INPEX as part of their future potential expansion.
Shell Prelude is building the first floating LNG platform in the world worth $7 Billion. Assuming this is a successful project, there are 13 sites identified for similar platforms worth upward of $30 Billion. The Shell Prelude will be fully supported by Darwin.
On land, there are 2 massive oil fields currently being explored with one of the basins supporting a $17 Billion project. There are currently 13 different types of mineral mines expanding in NT soils worth an estimates $3 Billion.
Some of the Local Construction Projects are...
- $50 Million Abattoir
- $100 Million International Airport Expansion
- $100 Million Sky City Expansion
- $26 Million Bombing of Darwin Tourism Display
- $100 Million Support Retail Industries
- $120 Million Defence Spending
- $50 Million Defence Housing
- $100 Million Casuarina Square Expansion
- $200 Million Power & Water Authority
- $120 Million Paspaley Building
- $84 Million Prison
- $410 Million in Police & Health Spend
- $200 Million Palmerston Hospital
- $12 Million Palmerston Water Centre
- $12 Million Marine Supply Depot
- $150 Million NA Training Centre
Just the Approved Projects, we are looking at over $44 Billion.
With Approved & Upcoming Projects, grand total of over $87.3 Billion.
It has been estimated that Darwin with a population of 129,000 will require 85,000 additional workers by 2020 with 36,000 of these needing to be skilled. Further to this estimate, is that in the same period there will be a need for an extra 35,000 dwellings...
In 2012, this is only 8 years away!
For further information, we have provided additional links:
Invest NT's article called 'Why Invest in the NT'