The Northern Territory Infrastructure Development Fund (NTIDF) is an Australian infrastructure fund, which will invest primarily in Northern Territory related infrastructure assets.
Under appropriate circumstances the fund may also invest in projects outside the Northern Territory, such as linking projects with other Australian states.
The Northern Territory Government is the founding and initial investor in the NTIDF.
On 6 October 2015, the former Chief Minister of the Northern Territory, Mr Adam Giles and the former Treasurer Mr David Tollner announced the creation of the NTIDF. Excerpts from the media release stated:
- Using $ 200 million from the sale of the Territory Insurance Office (TIO) as a financial cornerstone, the fund will seek a further $ 800 million of capital from other Australian and overseas investors to create a $ 1 billion investment pool.
- The fund will be used to invest in infrastructure projects across the Territory, creating revenue for the fund, essential infrastructure for Territorians and new jobs across the whole economy.”
- TIO was sold because it posed a huge risk to the finances of the Territory Government, but we are determined that the sale proceeds will be spent wisely.
- The fund will be financially independent of government, with no risk to Territory taxpayers.
- The fund will seek to invest in a diversified portfolio of infrastructure related projects, such as roads, hospitals, schools and agricultural projects.
- Revenues will be re-invested into the fund, providing the opportunity to create a self-sustaining pool of capital available for new infrastructure investment.
- The Board of the NTIDF will appoint an independent commercial infrastructure fund manager, responsible for making investment decisions.
The NTIDF is the first of its kind in Australia and as stated by the former Treasurer Mr David Tollner, “will fundamentally change the economic landscape of the Northern Territory forever”.
On 22 April 2016, the former Opposition Leader and now Chief Minister Michael Gunner agreed the creation of the NTIDF was “smart and sensible. I obviously opposed the sale of TIO, but when it came to how we should invest that money, I thought this was a sensible way to invest it for the longer term to leverage greater investment in the Northern Territory”.