Northern NSW is set to benefit through further investment as Newcastle Airport signs a $50 million debt facility agreement with ANZ Bank.
A direct, sustained economic benefit to the Hunter and beyond will come through major infrastructure projects funded through this five–year facility.
The increase in passenger traffic facilitated by these investments will provide an enduring economic boost for the long term.
Planned future projects include a significantly enhanced terminal, expanded car parking facilities and essential airside facilities, such as a new apron, taxiway and aircraft parking bays, all of which will allow the airport to meet growing passenger demand.
The facility will also help fund stage one construction of the Airport’s Astra Aero–lab development, Newcastle’s globally significant Defence and aerospace hub.
Speaking on Thursday, June 6 2019, Newcastle Airport CEO Dr. Peter Cock said the region deserved an airport that was striving to fulfil its potential.
“Our catchment takes in a large part of northern NSW which sustains the state’s biggest regional economy and we see one of the airport’s key roles as realising further potential, and future opportunities,” Dr. Peter Cock said.
“It’s vital we play our role in building prosperity and diversity into the economy. This debt facility allows us to turbo-charge development of both the airport and Astra Aero-lab.”
“Thousands of additional jobs will be generated over the next 5 years, both directly and indirectly, on the back of significant passenger growth and continued investment in our precinct.”
“The Astra Aerolab development will stimulate demand for highly skilled jobs in our region and provide the NSW economy with a massive boost,” he concluded.
The recently commenced Stage one of the Astra development launched by the Deputy Premier John Barilaro, is part funded by the NSW Government and includes construction of an access road, roundabouts and the provision of electricity, water and sewer services.
Once complete, Defence contractors will be in a position to move into the precinct.
IMAGE | Newcastle Airport set themselves up for upscale investment
