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Dirio Gas And Power Project On Track To Be Completed

The 45 megawatt Dirio gas and power project is on track for completion. General manager Ashok Jain said this while giving an update on the project.

Mr Jain has also confirmed that the turbines have already been moved to the project site and will be assembled in due course.

This project was also questioned by the Member for Moresby Northwest Sir Mekere Morauta in a statement last week demanding to know when this project will be delivered. Mr Jain yesterday said this project, like another power project, will take 18 months to be delivered.

“We started in November last year so we are 12 months into it now and 18 months of completion so second quarter of next year we should be ready,” he said.

He also cleared the air that Dirio Gas and Power Company is a national company and has followed all the house rules in getting all its licences and processes in order before the project gets off the ground.

He said they have successfully secured their legal binding gas agreements with ExxonMobil, completed its power purchase agreement with PNG Power for 25 years that was done in September, received licences from BPNG and ICCC.

“We are working through the regulatory processes and I want to make sure and I am very clear we are very cautious of those regulatory processes. We are a national company so we need to follow the house rules and we are doing that,” he said.

Mineral Resources Development Company (MRDC) managing director Augustine Mano said the ICCC sets the rate for electricity at K0.38 a kilowatt, and no power producer can set above that.

“Even if we are a monopoly to get our licence, we can’t go above what ICCC has put and that is K0.38 a kilowatt so we cannot sell above that. Our price is way below that maximum ceiling that ICCC has put,” he said.

Chief Secretary and Dirio chairman Isaac Lupari said the board of Dirio includes the two governors from Hela and Gulf, an officer from MRDC and himself. “We are there as trustees in transition phase.

Once the company is fully established and it’s got business running the shareholders will then elect their own directors. In the mean time we are overseeing the development of this company which I feel will serve this country and the people,” he said.

Continue reading at https://postcourier.com.pg/dirio-gas-and-power-project-on-track-to-be-completed/ | Post Courier

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