Dubai-based group eyes US$1b investment here

 By GYNNIE KERO

DUBAI-based AWAL Impex International (Holdings Ltd) plans to invest US$1 billion (K2.4 billion) in telecommunication, oil and gas, construction and infrastructure development projects in Manus.

Company secretary Ashwini Bharadwaj (right) told The National that Awal had recently proposed to the National Government to develop Manus as an international free trade zone.

He said from Dubai yesterday the company had vast interests to invest right across Papua New Guinea and not only in Manus. 

AWAL Impex has significant presence in the Middle East, Africa, Asia and North America.

Last November, the company’s executives met with several ministers, including Prime Minister Peter O’Neill, and expressed their business intention.

“Our (AWAL) investment analyst is working on some research and development and our investment can range between US$1 billion to US$10 billion based on the research findings on the investment needs.

“We will be able to allocate specific projects investment allocation once we get the investment requirement from our research and development team,” Bharadwaj said. 

 “We have plans to invest on telecommunication, investment in Oil and gas sector, and investment in construction and infrastructure development, food and hospitality, healthcare services and children’s education.

“Apart from this we have also proposed to the Government to develop Manus as an international free trade zone.

“Prime Minister Peter O’Neill and all political leaders and Manus community welcomed our intention towards the development of the prrovince. 

“Our investment plans would be towards all the provinces of Papua New Guinea,” Bharadwaj.