Intermodal CFO to head Northern Australia Infrastructure Fund

CHIEF financial officer of the National Intermodal Corporation, Neil MacDonald, has been appointed the new chief executive of the Northern Australia Infrastructure Facility (NAIF).

Mr MacDonald, a private equity investment and banking specialist, is set to lead the organisation as it furthers plans to boost economic growth across the north.

His appointment is for five years.

Resources and northern Australia minister Madeleine King said she looked forward to working with Neil MacDonald to further strengthen NAIF as it invested in projects and built resilient infrastructure.

“Neil will be pivotal in leading NAIF as it prepares for the next decade of delivering for the people and communities of our north,” Ms King said.

The appointment comes after the minister recently announced the $7bn NAIF would continue to invest in projects across northern Australia for another 10 years, and as the government considers the outcome of a statutory review of NAIF.

Mr MacDonald previously has been the head of corporate finance for Mining and Primary Steel, head of corporate finance for Klesch Group Limited as well as executive director and head of project finance Asia Pacific for JP Morgan.

Mr MacDonald is to be based in Cairns and will start his new role early in the New Year.

Minister King thanked retiring NAIF chief executive Craig Doyle.

“I thank Craig for the significant contribution he has made to NAIF,” she said.

“He has led the organisation with distinction since June 2022, overseeing major investments from large-scale resources and energy developments to social infrastructure projects.”

NAIF has a current portfolio of 32 project investments—14 in Queensland, 10 in Western Australia and eight in the Northern Territory.

Together, these investments represent around $4.3bn in approved loans towards projects forecast to generate more than $33bn in public benefit and support thousands of jobs across the north.