Central Province Kido landowner Morea H. Onno has independently invested in Pacific Lime & Cement Ltd. (PLC), becoming a shareholder in the listed company behind the Central Lime and Cement Project.
The project is being developed as Papua New Guinea’s first integrated lime and cement manufacturing development of its kind.
Onno said he bought PLC shares through the public market based on his confidence in the company and the project's long-term potential, having followed its development for more than a decade as a landowner from Kido.
“I wanted to invest my own money and gain exposure directly to the listed parent company, Pacific Lime & Cement Limited,” he said.
The investment gives Onno a direct financial interest in the company developing the project on land where Kido and Rea Rea communities are positioned to participate through project-level equity arrangements.
Landowners from Kido and Rea Rea have the opportunity to participate through free-carried equity provided by the developer. The PNG Government is also taking an ownership stake and has indicated it may eventually make part of its project equity available to landowners.
Onno said his investment was a personal decision and should not be taken as representing the views or investment decisions of other Kido or Rea Rea landowners.
The Central Lime and Cement Project has been under development for more than a decade, involving investment, regulatory approvals, engineering, infrastructure planning and engagement with landowners and communities.
For Onno, watching the project progress over that period has allowed him to assess it from both a landowner and investor perspective.
He said PNG's need for roads, bridges, housing, schools, hospitals, mines and other infrastructure would support demand for basic construction materials, much of which the country currently imports.
“Papua New Guinea needs to be built. We need roads, bridges, houses, schools, hospitals, mines and industries, and all of these require the basic building materials that our country currently imports in very large quantities,” he said.
Onno also cited Kido and Rea Rea's location, access to resources and proximity to the coast as factors behind his decision to invest.
“Our location, resources and access to the coast place our communities in a strategically important position for this development,” he said. “These are advantages that cannot simply be recreated somewhere else overnight.”
He said the project's more than 10 years of development had also demonstrated the capital, approvals, infrastructure and technical work required to establish a major industrial operation in PNG.
“Projects like this do not simply appear like corner stores once somebody sees an opportunity,” he said. “They require enormous capital, years of approvals and development, the right raw materials, infrastructure and logistics, and, importantly, a strategic location capable of supporting a major industrial operation for generations.”
Onno said observing the project's development had increased his confidence in making his own investment decision.
His investment marks a shift from being solely a landowner connected to the project area to also becoming a shareholder in the company developing it.
“My investment should not be taken as me speaking on behalf of every Kido or Rea Rea landowner,” Onno said. “It represents my own decision, made independently, and my own confidence in the future of PLC and the development taking place on our land.”
Onno said he was proud to see the industry being established at Kido and to participate in its future both as a landowner and shareholder of Pacific Lime & Cement Ltd.
