NT Barramundi farm gets first NAIF funds

Greg Roberts

A barramundi farm near Darwin will become the first recipient in the NT to receive funds from the Northern Australia Infrastructure Facility with almost $30 million to expand its business.

Humpty Doo Barramundi will receive $28.7 million, with an initial $7.2 million cheap loan from the fund and a similar amount from ANZ bank in the first stage of a $58 million larger expansion, it was announced on Wednesday.

The $5 billion NAIF aims to help develop northern Australia's economy, but has been criticised with only one other project, a marine support base in WA, funded so far.