Ausenco acquires 50% of Kramer

Business, Main Stories


GLOBALLY-listed Australian company Ausenco Ltd has acquired 50% of national company Kramer Group to form a joint venture targeting substantial projects to be generated by the liquefied natural gas (LNG) development activities.
The new company will be known as Kramer Ausenco Ltd.
Kramer Ausenco (PNG) Ltd chief executive officer, Frank Kramer, said: “We decided we needed a stronger global partner to take on the bigger projects that are coming to PNG.
“To get more involvement with the resource projects, not just on the edges but on the central part … that is why we formed this alliance.
“We invited Ausenco to buy 50% of Kramer Group.
 “What we want them (Ausenco Ltd) to do now is to build a PNG capability so that more Papua New Guineans get involved with central parts of major resource development projects,” Mr Kramer said.
He said he has a vision and that vision is “to involve every Papua New Guinean in the development of the nation in project, managing not just in the periphery of the resource project but in every sense the central aspect of front end engineering and design (FEED) work, procurement and construction”.
Mr Kramer said the company was involved at the initial stages of the PNG LNG project at the start of the FEED.
“We had key staff members working in the team … now that it is moving to end of the FEED and beginning of the EPC (engineering, procurement and construction) phase, that is the type of work where I want more involvement from Papua New Guineans,” he said.
Zimi Meka, chief executive officer of Ausenco Ltd, said the partnership meant clients in PNG and the region could access a global engineering company employing about 2,500 people around the world.
He said the five core business lines for Ausenco Ltd are: minerals; energy; processing and structuring (including ports and marine); environment sustainability; and programme management.
“The Kramer Group is now able to access those skills and is capable to deliver quality services to clients here in PNG,” Mr Meka said.
Mr Kramer said this year would be special for PNG because of greater expectations, opportunities and challenges that would stretch across key developments of industries and companies.
“I think, we are in a unique position that is why we entered into this JV with Ausenco”.
Apart from Brisbane and Port Moresby, Kramer Ausenco Ltd has offices in Solomon Islands, Fiji, Vanuatu, Samoa, and Tonga.
Before the joint venture, Kramer Group and Ausenco had projects at Ok Tedi Mine, Tolukuma gold mine, Misima, Porgera, Hidden Valley and Harmony Gold.
They also had engineering and civil works, procurement and construction jobs around the country.