Northern Territory and Samsung sign investment deal
- Sydney (20 April)
The Northern Territory (NT) Government and Samsung have created a cooperation and information-sharing framework to support local investments under a Memorandum of Understanding (MoU).
The MoU allows the NT Government and Samsung to identify and progress priority investment opportunities together, a government spokesperson told Lithos on 20 April. NT’s government and Samsung will focus on energy, marine, digital, and defence-support sectors, they added.
“The Territory presents a compelling environment, supported by its strategic location, abundant resources and growing role in regional energy and digital infrastructure,” Samsung C&T Engineering and Construction’s President for Global Business Jung Wook Kim said.
Samsung and the NT Government have partnered on investment projects before. In late 2023, they signed an MoU to support a renewable energy hub – including generation, transmission, and storage assets – in the territory.
The agreement outlined how the NT Government and Samsung would work to explore project options and conduct feasibility studies, the Territory’s then-Chief Minister Natasha Fyles said at the time.
Neither Samsung nor the NT Government has announced updates on the project since 2023.
Samsung has also previously invested in Australian energy projects. The company sold its Dunmore solar farm and battery storage development to Octopus Australia in early February, after securing consents for the project. It is actively developing solar and battery projects across Queensland, New South Wales, and Victoria, Samsung said at the time.
The NT Government has sought investments from multiple sources over the last week. NT’s Minister for Trade Robyn Cahill signed the territory’s MoU with Samsung in Seoul, during a government-led Investor Roadshow covering Japan and South Korea. Days earlier, NT Chief Minister Lia Finocchiaro called on the Federal Government to increase defence investment in the territory.
NT’s government also reformed planning rules in 2025 to support large economic development. It created a Territorial Coordinator role with the right to exempt projects from parts of laws, set approval deadlines for territorial regulators, take over regulatory decision-making powers, and more.
By Avinash Govind