Company secures K4.1m
The National, Friday 12th April, 2013
A LOCAL company has secured a K4.1 million loan from the First Investment Finance Limited in Port Moresby to conduct road projects in Southern Highlands province.
Poor road conditions in the province have generated interest from individuals and local businesses such as Construct Oceanic Limited to invest in road projects.
Managing director Sape Molumi said the loan would assist in the purchase of road work equipment for the projects in Southern Highlands.
This includes:
l Sealing and ancillary equipment;
l A recycler stabilisation machine from Italy;
l Kerb machines and concrete batch plant plus truck;
l Four dump trucks;
l Backhoe; and
l Grader and roller.
Molumi said the finance company had been supporting COL since 2010 when it wanted to buy a dump truck.
FIFL managing director John Gundry commended COL for its progress and growth over the years.
“The company has so far made a good work and is willing to assist the local contractors who have shown potential in repaying their loans,” he said.