Lloyds Metals & Energy Ltd, a major player in India’s metals and mining sector, is eyeing investment opportunities in Papua New Guinea (PNG), particularly in the gas sector.
With a legacy spanning more than 50 years, the company is primarily involved in iron ore mining, direct reduced iron (DRI) manufacturing, sponge iron production and power generation, and it plans to expand into integrated steel and pellet production.
The management team, led by Managing Director Balasubramanian Prabhakaran, met with Minister for International Trade and Investment Richard Maru and Kumul Petroleum Holdings Limited (KPHL) Managing Director Wapu Sonk on 6 August 2025. They expressed interest in partnering with KPHL to purchase gas from PNG and to develop a new gas project in the country as a serious equity partner.
“They are also keen to invest in a steel manufacturing plant within the Caution Bay SEZ, next to the PNG LNG site being developed by KPHL," Minister Maru said.
Maru said that KPHL has commenced work on establishing a steel fabricating plant at the Caution Bay SEZ, which was granted an SEZ licence on Monday.
"Manufacturing steel to supply the requirements of PNG’s manufacturing industry is exciting news, and it has the full support of the Marape-Rosso government as it will fully complement the steel fabricating plant being established by KPHL," he said.
Minister Maru thanked the Lloyds Metals & Energy Limited team for their strong interest in investing in PNG. He also extended an invitation for the company to speak at the second Papua New Guinea Special Economic Zones Summit.
Other potential investors and government officials from India are also expected to attend the summit to meet prospective partners and explore investment opportunities in PNG, the minister said.
