The Kumul Consolidated Holdings (KCH) today presented a cheque of K200,000 to take up Gold Sponsorship for the upcoming 2nd Papua New Guinea Special Economic Summit that will be hosted in Port Moresby from August 31st- September 3rd, 2025.
The Minister for International Trade and Investment, Hon. Richard Maru, thanked the Managing Director for KCH, Professor David Kavanamur, and the Minister for State Enterprises, Hon. William Duma, for their support towards this very important Summit.
Minister Maru said: “We are very happy to work with KCH. We look forward to receiving their Submissions for the Madang Integrated SEZ and the Portside SEZ so we can have them processed and approved by the NEC and the SEZ Authority will grant them licenses subject to KCH meeting all the regulatory requirements.”
Minister Maru and Professor Kavanamur also gave an update on the establishment of the new cannery in Madang.
“We are also happy to announce that for the cannery in Madang, following the clearance of the MOU by the State Solicitor, by tomorrow the Shareholders Agreement will be finalized between the three shareholders- KCH, Madang Provincial Government and RD Corporation to pave way for the launching of the tuna canning project within what used to be called the PMIZ but now the Madang Integrated SEZ. The Prime Minister, Hon. James Marape, will be invited to officiate at this launch will be held on Monday, July 7, 2025 in Madang. The Governor for Madang, Hon. Ramsey Pariwa, will be meeting with us to finalize the program for this historic launch.”
“This project was initiated by the Somare Government has been delayed by over three Governments. The Marape-Rosso Government will finally deliver this very important project this year. It is going to be a very significant milestone as we celebrate 50 years of Independence. It will signal the start of the very aggressive push by the Government to have all our fish caught in our waters to be processed onshore. We are waiting for the National Fisheries Authority to bring the Domestication Policy, but work starts this year.”
“It is our hope that in the next couple of years we will completely ban the unprocessed fish exports from PNG and in the process, we will create over 100,000 new jobs and revenue inflows will grow from less than K1 billion billion to over K5 billion from licensing of boats, taxes from companies, personal income taxes and GST. The new 300MT cannery project will cost K160 million. The State’s share of the equity funds is ready and will be released to the new JV Company to be called the ‘Kumul Fishing Limited’ as soon as the Project Agreement is signed,” said Minister Maru.
The new Board and Management for the JV Company will be appointed in the coming weeks and the company will be ready to start the construction of the new cannery after the launch next month.
Minister Maru thanked the Prime Minister and the Cabinet, KCH, RD, Madang Provincial Government and all the partners for all their support towards the establishment of the new cannery which will be owned by our Government and the Madang Provincial Government on behalf of our people.
“I want to thank the Marape-Rosso Government for the foresight and the determination to finally deliver the PMIZ decision as part of our Take Back PNG initiative,” said Minister Maru.
