Bank warns: Don’t miss the next boom

By Lemach Lavari
Business owners in PNG must prepare for the expansion of the PNG LNG project and take advantage of the opportunities it will bring, says Bank South Pacific chairman Sir Kostas Constantinou.
He said business owners should learn from the experience of the project when it was first constructed.
Sir Kostas said there was a marked increase in economic activity at that time.
“Local businesses need to start understanding the market and prepare for the next boom,” he said.
“Go through and see what happened in the last LNG project and take advantage.
“Things will change rapidly again because the expansion is a massive billion kina project.”
Sir Kostas said the Government’s announcement of a gas committee would drive the process to secure the project plan known as front-end engineering design (Feed).
“Just the announcement of FEED starts giving banks and finance companies confidence that this project is coming.”
He said the announcement may be made at the Apec leaders’ meeting in November.