PM launches bio-fuel project

By CLIFFORD FAIPARIK
A CASSAVA bio-fuel project that will contribute about K283 million (US$90 million) annually to the national economy was launched by the Prime Minister Sir Michael Somare in the Central province yesterday.
This project will also promote PNG and South Korea’s international image in their efforts in contributing to the global campaign against green house effect.
This project, which will cost K1 million to build, will be facilitated by the South Korean investor Changhae Ethanol.
It will have about 600,000 cassava tubers planted in over 20,000ha of land in the Rigo district.
It will also lead to the building of an ethanol processing factory to produce 180,000l of bio-fuel from the cassava tubers annually.
Sir Michael, when launching the project at Bore village, said this project was part of the Government’s national agriculture project to implement the five-year economical recovery policy.
“Agriculture accounts for 26% of PNG’s GDP. More importantly, it provides income for 80% of the population.
“Bio-fuel is a growing industry world-wide and PNG is well positioned to be a key player due to its comparative advantages of good climate and available labour,” he said.
Sir Michael said he was pleased to note that the vision of the Government and its work in developing and promoting its policy objectives of attracting investments for sustainable agricultural economy, attracting foreign investments in economic impact projects, export driven economic recovery growth strategy, people empowerment and poverty alleviation through investments in rural areas was bearing fruit such as the bio-fuel project.

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