Pacific Lime and Cement (PLC), formerly Mayur Resources Limited, has approved the Final Investment Decision (FID) for its flagship Central Cement and Lime (CCL) Project at Kido Island in Central Province — paving the way for construction to begin on a nation-building venture expected to cut Papua New Guinea’s reliance on imported construction materials.
The decision follows a strategic redesign to lower upfront capital costs and proceed under an equity-only funding model, fully financed from existing cash reserves with contingent funding available if needed. PLC said the shift has “materially de-risked the project’s capital structure” and will improve forecast cash flows, strengthening its platform for long-term growth.
Managing Director Paul Mulder said the milestone was reached “alongside the Prime Minister of Papua New Guinea James Marape, senior members of Parliament including ministers, the Provincial Governor Ruffina Peter, Local MP for Hiri-Koiari Keith Iduhu and the local landowner communities and their senior representatives.”
“This marks a pivotal milestone in Pacific Lime and Cement’s journey to becoming a regionally significant supplier of lime and cement. This decision reflects our confidence in the project’s robust economics, strong market demand and strategic positioning, and the high-level support we have received in both government and the community of PNG,” Mulder said.
He added that the equity-only model “provides the company with funding certainty during construction while also offering a path to enhance life-of-project cash flows attributable to equity holders.”
Beyond economics, PLC expects the project to create hundreds of direct jobs and thousands of indirect jobs, stimulate local enterprise and establish a nationally significant domestic supply of lime to support PNG’s construction and industrial sectors.
From Rock to Road
Located 25 kilometres west of Port Moresby, the CCL Project will operate under a Special Economic Zone framework to produce cement, lime and eventually iron for domestic use and export to Australia and Asia.
“We changed our name from Mayur Resources to Pacific Lime and Cement to reflect our core business. People didn’t understand what Mayur Resources stood for — but cement and lime build nations,” said Executive Director Musje Werror during a recent project update at PNG Resources Week’s 2025 CANCONEX.
“This is not just another extraction project. It’s about taking PNG’s natural resources and turning them into products that will build our roads, our homes and our industries.”
The first phase will include two quicklime kilns, scalable to five, an international shipping port and road connectivity to the mainland. Wharf construction is nearing completion with full vessel docking expected within eight months.
The Kido Island location offers shipping times of five days to Perth and three to Brisbane compared with 21 days from Asia. It will also host mobile gas-fired power solutions to address immediate electricity needs.
“Seventy percent of our country is still without access to electricity. We can’t wait ten years for infrastructure development. We’re proposing gas-fired ships to supply mobile relocatable power facilities to serve immediate needs,” Werror said.
Landowner Benefits and Partnerships
At a ceremony in Central Province, PLC presented cheques worth PGK 2.73 million (US$732,000) to the Kido and Rearea landowner companies, while the Central Provincial Government contributed PGK 1 million (US$268,000). These commitments are part of the project’s inclusive development model, which invites landowners to co-develop industries such as cement casting, brick making, salt processing and steel milling within the SEZ.
“The mining lease covers just one-third of the land. Two-thirds is still available and we’re inviting landowners to participate in transforming that space. This is a first in PNG and we’re proud of that,” Werror said.
PLC has already sponsored community members — half of them women — for technical training in engineering, with several now working on site. The company aims to supply cement at 30 to 50 per cent less than imported prices.
“Why import when we can make it here and even sell to others? It’s time to stop missing opportunities. This project can change that and it will,” Werror said.
Construction is expected to take 18 months with production targeted before the end of 2027. Mulder said the project aligns with the Marape-Rosso Government’s vision of economic self-reliance and downstream processing: “Enough of exporting raw resources. We have what it takes to make our own products and lift this country.”
