This is interesting. It does and doesn't sound good for ARU.
From the article, there is nothing particularly attractive about NAIF funding in our current super low interest rates environment.
Given that, I have to wonder why ARU haven't just gone out and got a cheap loan already? Easy to argue that they are first waiting to hear back from NAIF, and with the SocMo-Trump bromance heating up, it makes sense to wait and see how things play out. And then if that falls through they would seek financing elsewhere. But its a big risk to loan ARU several hundred million on the hopes they get Nolan up and running and profitable, so getting a loan anywhere else might be much more difficult.
By all accounts NAIF has been a failure to date, having done very little. They have a new CEO coming in October IIRC? There is scrutiny on them, and from the article companies are calling for grants rather than loans. I think this bodes well. A new CEO comes in and wants to impress, they have ScoMo is in their ear...money starts flowing.
IMO
- Best result ARU gets a chunky NAIF grant to partially fund the startup, then either a NAIF loan or loan elsewhere to cover the remainder of costs, and bang we're off and racing, next stop the moon.
- Worst result, no or minimal NAIF assistance, ARU cant get finance, and we are all left staring the proverbial "hole in the ground owned by a liar."
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