PMIZ Project May Cost Close to K1B

By: PNG Business News September 12, 2022

Photo Credit: PNGI Central

According to International Trade and Investment Minister Richard Maru, the construction cost of the Pacific Marine Industrial Zone (PMIZ) project in Madang may be close to K1 billion.

Maru stated that although the government had set out roughly K70 million for the project, it might not be sufficient.

“We are going to make sure that PMIZ is going to be constructed as soon as possible,” he said yesterday.

“We will shortly be calling a meeting with the Fisheries (and Marine Resources) Minister (Jelta Wong), PNG Ports, KCH (Kumul Consolidated Holdings) on how we can raise K1 billion to build the park.

“I’m talking wharves, sewerage system, water, power.

“We need to raise the funds internally if we can, and get on with the construction of PMIZ as soon as possible.”

The undertaking would fall within the purview of the ministry that Maru oversees.

To move on with the project, the National Fisheries Authority secured 130 property titles from the Department of Lands and Physical Planning. Wong received the titles from department secretary Benjamin Samson Wednesday at the start of the PNG provincial fisheries conference in Port Moresby.

Samson said: “117 of the titles are for industrial purpose and 13 are for underwater resource and residence.”

“This makes PMIZ the first of three projects to have land titles issued, considering we are yet to get titles for Motukea Wharf and Manus Wharf.”

In 2004, the then-cabinet of Prime Minister Peter O'Neill approved the PMIZ project to be built at Vidar.

According to the NFA, the nation's 2.4 million square kilometre fisheries zone is the biggest in the South Pacific.


Reference: The National (7 September 2022). “Maru optimistic about PMIZ”.


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