Authority in power to hold talks

THE Kikori development authority (KDDA) now has the power to engage directly with developers to develop the Ihu Special Economic Zone (Isez) in Gulf.
According to the Public Service Minister and Kikori MP Soroi Eoe, Cabinet approved a second submission made by the KDDA.
Eoe said Cabinet had also approved a K100 million budget for the Isez zone over the next five years.
“Cabinet met on the first week of Parliament sitting on Tuesday and approved our submissions,” he said.
“The second submission made to Cabinet was approved and there are several issues and request we made to Cabinet. One is to engage with the developers so they have given us the authority.
“The other is for the Government to approve a budget for the Ihu special economic zone which they have which is about a K100 million for the next five years.”
Eoe said K5 million would be for administrative costs, K15 million for social mapping, environmental studies, land mobilisation and meetings.
He said there was an engineering component which would be implemented after the initial preparations to bring in developers.
Eoe also appealed to the districts’ own professionals in the engineering space and social scientists to join the team. The Kikori MP said the investment into the oil and gas project would be significant, nearing K8 billion over the next five years.
He said according to an expression of interest they had received or a letter of intent was that the developers would invest an additional US$6 billion (K20.9bil).