Dubai firm eyes PNG

 By GYNNIE KERO

DUBAI based company AWAL Impex International (Holding Ltd) has earlier announced its plans to invest US$1 billion in telecommunication, oil and gas sector, and construction and infrastructure development projects in Manus.

Company secretary Ashwini Bharadwaj said Awal had proposed to the national Government to develop Manus as an international free trade zone.

She said from Dubai in January that the company has a vast interest to invest in Papua New Guinea and not only in Manus.  

“Our 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, oil and gas sector, construction and infrastructure development, food and hospitality, healthcare services and children’s education.

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

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

“Our Investment Plans is towards all the provinces of Papua New Guinea, Awal International Holdings; do not restrict itself to only invest in Manus.  

“Manus being province of PNG it was declared once as a Free Zone by the Government, and has opportunities to flourish as Free Zone; Awal showed its intention to develop Manus into International Standard as free zone.”