Balsa project, a boost for NIP

NAMATANAI in New Ireland has presented the plans for a massive balsa project that will see spin-off business benefits to the local economy, province, and the country as a whole.
The district’s business arm, Namatanai Advancement Limited and Kokopo-based Balsa company, 3A Composites PNG Limited, recently signed a land lease agreement to grow balsa at Mageh plantation which is located about 15km by road east of Namatanai.
Speaking during the official launch of the balsa project, Agriculture Minister Aiye Tambua commended the local MP and Minister for Transport and Civil Aviation Walter Schnaubelt for initiating a major project.
“This project is the first of its kind in Papua New Guinea and will have an economic impact.
“It will benefit the district, province and the country as a whole and I salute my colleague for your foresight in bringing the right investment to your people,” he added.
“The Government stands ready to support the project which will benefit the local people in terms of employment and other economic spin-offs.
“We need more projects like this which can create economic opportunities for our people at the village and community level.
“That is where we should and must focus on,” Tambua said.
Schnaubelt, who witnessed the signing of the land lease contract, welcomed 3A Composites PNG Ltd for their venture in introducing balsa to the district.
Schnaubelt said that the company would set up a nursery and do ground surveys to plant 50 hectares per week on 400 hectares of land.
He thanked the landowners for their support which had enabled the project to become a reality.
Meanwhile, 3A Composites PNG Limited general manager George Karoba said the agreement was historic and a first for the balsa industry in PNG.
“The significance of this event cannot be underestimated.
“We are sowing the seeds of transformation for the New Ireland province, four hundred hectares of land will be the site of economic growth,” Karoba said.