PNG Ports Corp Redevelopment Expected to Cost K1.1 Billion

by PNG Business News - August 09, 2021

Photo Credit: EMTV Online

PNG Ports Corporation is redeveloping and investing in its ports in the future as part of its 30-year master plan.

Rodney Begley, the chief operating officer of the PNG Ports Corporation, said the company completed a 30-year master plan 18 months ago that included evaluations of every port in the country.

“We did an economical assessment, environmental assessments, and constructional assessments.

“This is a general everyday roster on the master plan.

This document now manifests PNG Ports as we look forward to the next 30 years.

“We are working with the Australian government in port redevelopment and investments.”

He stated that ports in Daru, Kimbe, Madang, Kavieng, Lae Tidal Basin, Rabaul, Vanimo, and Lorengau are being considered for redevelopment.

Over the next five years, this will spend K1.1 billion ($AU400) in reconstruction across the country.

“Over the last 12 months, I’ve come to recognize the importance of the Highlands region as the food basket of the country.

“We at PNG Ports have visions to develop three inland trade hubs to support the Highlands.

“This idea is that we replicate a traditional ocean seaport and we place it at the base of the Highlands in Goroka and maybe in Mt Hagen,” said Mr. Begley.

He explained that the goal is to make it easier for people to transport fruits and vegetables, as well as other items, up and down the highway by utilizing these three stations.

“That’s a visionary idea and something that they are talking to the government about.

“This is the Australian Infrastructure Financing Facility (AIFFP) funding of the Pacific.

“In November last year, I wrote to the Australian government and they granted us K26m, and this year in January I wrote to Australian government and we are now in negotiations to secure and finalize $AU400 or K1.1 billion.”

PNG Ports will invest money through a mixed financial package, with 80 percent being soft loans and 20 percent being grants, according to Begley.

“All of this is underpinned by the PNG Ports 30-year master plan. Those eight ports will be the fundamental focus of this spending,” he added.

 

Reference:

Post-Courier (2 August 2021). “Ports Redevelopment, Investments To Cost K1.1 Billion”.



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