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| Home to abundant natural resources and an enviable
proximity to the markets of Asia, Australia’s stunning Northern
Territory is undergoing major transport and infrastructure developments,
as well as innovative initiatives such as a desert and tropical
knowledge centre.
| Area: |
1,349,130 sq km |
| Population: |
200,100 (1.0%) |
| Capital: |
Darwin (pop. 90,000) |
| State Final Demand: |
A$10,28bn* |
| SFD growth: |
8.5% |
| Gross State Product: |
A$9.06bn‡ |
| Credit rating (S&P): |
Aa2 |
| Employment growth: |
1.75% |
| Average weekly earnings: |
A$706.10
(11/02) |
| Unemployment rate: |
6.0% (03/03) |
| Inflation: |
2%* |
*=2002, ‡=2001/2. Source: ABS.
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Northern Territory
Top End, Red Centre
With its first
new government in 20 years at the helm, the Northern Territory is developing
itself as a key hub for Asia. Trade contributes to more than one in four
Territory jobs; exports per capita are more than double the national average.
The Territory is broadening and strengthening its trade base, with competitive
advantages accruing from major infrastructure projects.
Adelaide-to-Darwin railway
The completion of the A$1.3bn AustraAsia rail project later this year
will see the Territory’s capital, Darwin, gain a rapid freight link
with South Australia and the southern states. A daily rapid rail link
will contribute greatly to Darwin’s goal of becoming Australia’s
Asian gateway.
The railway will provide a major boost for the Port of Darwin,
the only port of any size along the whole Australian northern coast. It
boasts a natural harbour seven times the size of Sydney’s, encompassing
1000 sq km of open water, with deep shipping channels. The East Arm Peninsula
expansion (including a A$9m business park) is expected to become the nucleus
of a thriving industrial centre.
Oil and gas
The Northern Territory also hopes to become a major gas hub, having the
vast oil and gas resources of the Timor Sea on its doorstep. From 2001
to 2006, more than 69 exploration wells, worth A$762m, are planned in
the Timor Sea fields, and the success rate so far has been an exceptional
28%.
Vitally, ConocoPhillips has plans to build a A$3bn Liquid
Natural Gas (LNG) plant at Wickham Point. The LNG plant would employ nearly
1200 people during the construction phase and about 100 people during
operation. Bechtel is the selected contractor to build the Conoco-Phillips
plant, with construction hoped to start in 2003 for production in early
2006.
Desert knowledge
A unique ‘Desert Knowledge’ Co-operative Research Centre (CRC)
has won Commonwealth funding beginning in July 2003, with its main base
to be in Alice Springs. The Centre will develop the science of living
in extreme conditions, reducing the high cost of building and maintenance
in deserts, sustainable land management, the development of bush produce,
and integrated options for maintaining power, water and waste services
on a small scale. The other part of the project – Aboriginal health
– recognises and hopes to improve upon one of the nation’s
greatest social challenges.
Tourism
Tourism accounts for 5.6% of Territory GSP, the highest of any state or
territory. Australia’s ‘Top End’ and ‘Red Centre’
offer endless attractions including Uluru (Ayer’s Rock). Growth
remains strong and opportunities for tourism investment abound.
For more information contact:
Office of Territory Development,
Department of the Chief Minister
Telephone: +61 8 8946 9555
Fax: +61 8 8946 9556
Email: otd.info@nt.gov.au
Website: www.otd.nt.gov.au
Department of Business, Industry & Resource Development
Website: www.dbird.nt.gov.au
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