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Economic News from Darwin – 15 May 2017

2017-05-14 NT News: Thousands cash in on centre’s grand opening

The rural area’s $400 million Coolalinga Central shopping complex has officially flung open its doors to thousands of approving shoppers. The project, which has created around 1200 jobs, opened yesterday… Chief Minister Michael Gunner, Opposition Leader Gary Higgins and independents Gerry Wood and Kezia Purick were all there to celebrate the biggest retail development in the rural area in the past decade.

Mr Gunner congratulated developer Gwelo for putting its faith in the rural area with the development. “This is much-needed infrastructure for people living in the rural area, who needn’t travel far any more for a greater range of shops, doctors, fitness centres, bakeries, butchers, auto services, supermarkets, restaurants and more.” Gwelo managing director Even Lynne said the shopping centre had already become a hub of activity for rural people. “Anchor tenants Coles and Kmart have already become a huge draw card, and over the next six months or so, things are going to get busier. There is still the new tavern and more restaurants, which will bring more people to the hub. Plus I am moving on to stages 2 and 3, which will generate more work in the construction sector.”

2017-05-8 The Australian: CoreLogic dwelling price-to-income ratios

Ratios were highest in Sydney (8.4 times) and Melbourne (7.1 times) compared to only 4.5 times in Darwin.

2017-05-08 Offshore Technology:
Monadelphous wins Ichthys LNG Project offshore maintenance contract

Monadelphous Group has secured a long-term maintenance services contract with Inpex Operations Australia for the offshore Ichthys LNG Project… Monadelphous will provide operational, campaign and shutdown maintenance services (and) will also be responsible for brownfield projects implementation for Ichthys central processing facility ‘Ichthys Explorer’ and floating production storage and offloading facility ‘Ichthys Venturer’.

2017-05-02 NT Hansard: Primary Industry

The primary industry sector combined makes up approximately 20% of the Territory’s economy.

2017-05-08 Beef Central: Northern cattle exports

From January 1 to April 30, a total of 91,140 head were shipped from Darwin.

2017-05-02 NT Hansard: Cattle exports

Estimated 235,625 NT cattle were exported from Darwin port in 2016.

2017-05-08 The Australian:
Rinehart’s $2bn live export deal with China’s New Hope group

Hancock Pastoral company is poised to become the key player in the fast-developing industry exporting Australian cattle live to China, potentially a $2 billion sector…Under Hancock Pastoral’s live export masterplan, beef cattle will be shipped from the three northern Australian ports of Broome, Darwin and Townsville to Zhejiang’s island port of Zhou Shan, south of Shanghai, where New Hope will build new feedlot, quarantine and meat-processing facilities in the specially approved Free Trade Zone for Australian agriculture and food exports to China.

2017-05-11 Media Release: Environmental approval boosts economic development and jobs in Northern Australia

Coalition Government has approved under national environment law a prawn aquaculture facility in the NT… Project Sea Dragon, is the initiative of Australian agri-food company Seafarms Group Ltd. Stage 1 will result in a nearly 3-fold increase in Australia's farmed prawn production, and a 55% increase in Australia's total production. Once fully implemented, it is anticipated Project Sea Dragon will produce over 100,000 tonnes of prawns each year and generate an export revenue of $1.6 billion pa. The first phase, near the border of the NT and Western Australia, will include a facility at Legune Station where the prawns will grow to size, a breeding centre at Bynoe Harbour and export facilities at Wyndham and/or Darwin.

2017-05-02 NT Hansard: Marine Engineering and Services

We will invest in Darwin and Palmerston as a major player in marine engineering and services and have allocated $100m towards the ship-lift project. We will also develop a master plan to create a marine services park.

Disclaimer
The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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