Economy boost for ENB

Business, Normal

The National, Tuesday August 25th, 2015

 THE proposed Rabaul Fisheries Service Centre will save East New Britain from losing more than K1million annually through trans-shipment activities that happen offshore, an official says.

National Fisheries Authority (NFA) industry development cordinator Bolton Towok said the centre would not only boost the economy of the province but provide business opportunities for the locals as well. 

He said a feasibility study was being carried out for the establishment of the project.   

“The business of transhipment requires support in many areas and therefore these are potential opportunities for the ENB economy,” Towok said.

“According to recent assessment, approximately K1.5 – K2 million is lost annually in potential business revenue for ENB business.” 

Acting provincial administrator Wilson Matava said the centre would be a major development infrastructure that would help tuna trans-shipments in the province. 

“We are working with NFA, providing the advice and we have engaged a consultant that is conducting a study at this time,” he said.

Matava said the partnership was between NFA, East New Britain provincial government and Rabaul District Development Authority.

Towok further said the project was specifically to address transshipment activities because Rabaul is  a major tuna trading port in the country.

He said it was estimated that the project would cost about K50 million. 

“But that was 3-4 years ago when the project was proposed. 

“Now it would be around K70-K80 million, looking at the fisheries wharf which is going to be around 200 meters and the storage facilities, the warehouses and all those.

“It will be used for business of transshipment so that we are helping the fishing companies reduce their turnaround time.”