NAC signs K870 million agreement with ADB

THE Asian Development Bank yesterday signed an agreement with the National Airports Corporation for work to begin on the US$275 million (K870.9m) Tranche 3 of the Civil Aviation Development Investment Programme (Cadip).
ADB PNG resident mission infrastructure specialist Hussain Haider signed the agreement with National Airports Corporation acting managing-director Richard Yopo, witnessed by Civil Aviation Minister Davis Steven, Cadip programme-director Manuai Kametan, NAC staff and other stakeholders.
Kametan said Cadip had progressed well in its first two tranche, which had seen development of airports around the country, with the third tranche to cover the remaining 11 airports.
“Tranche 3 marks the end of the programme,” he said.
“The loan agreement has been signed between the State and the Asian Development Bank.
“What we are here to witness is the signing of the project agreement between ADB and the executing agency, which in this case is National Airports Corporation and others including PNG Air Services Ltd, Civil Aviation Safety Authority and Accident Investigation Commission.”
Kametan said the programme captured all service providers within the civil aviation industry in the country.