April 1, 2021

Tasmanian Government To Provide $100 Million Loan To Incat, If It Wins The Elections

The Liberals will provide a AUD 100 million interest-free loan to help Tasmanian shipbuilder Incat build a new high-speed vessel if it wins a third term of government.

Australian Community Media early this month reported one of Incat’s customers, Spanish company Naviera Armas, was in serious financial difficulties, largely because of the impact of the coronavirus pandemic. That contract is worth $109 million.

Incat says the $100 million loan from the government would allow it to build a new 120-metre catamaran.