K400m for coal power


A K400 MILLION power generation project is expected to start in Lae next year – using coal from Gulf.
The project, undertaken by Mayur Resources of Australia, will start following the signing of a power-purchase agreement with PNG Power Limited.
Managing director of Mayur Resources Paul Mulder said it would supply an affordable and reliable source of energy to the people of Morobe and other parts of the country.
“PNG Power in October last year requested that we provide a power-purchase agreement which we have done,” Mulder said.
“We are in discussion with PNG Power.
“They are considering and working with us and they are examining the project.”
Mulder said they would start construction after receiving PNG Power’s approval.
“It’s now up to them to accept the merits, the costs and the reliability of our project,” he said.
“What we have offered to them is upon being provided a power purchase agreement, within six months, we will be ready to start construction.
“Once construction begins it will take 24 months to build the power station and for it to become operational.
“We are waiting for the final power purchase approval so we can go to Gulf with confidence and formalise all the other approvals.”

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