ENB expands business ventures

Business, Normal


THE East New Britain provincial government is now the major share holder in the New Britain Resources Development Limited (NBRDL).
The government has bought 51% of shares in the fishing project at a cost of K17 million.
Governor Leo Dion said his government continued to expand its financial independence through various joint ventures or partnerships in private enterprise within the province and overseas.
He said these investments were taken out in good foresight and were expected to boost the province’s economy.
The government has also invested in the ENB Development Corporation and Gazelle International Hotel Limited.
The government has already K5 million to the company for the shares.
Mr Dion said inviting foreign investment to ENB through a joint partnership in the fishing industry meant strengthening and growing the provincial economy by creating employment opportunities, additional market for the local community and revenue opportunity for the government.
NBRDL has been under a lot of constraints and this had delayed the start of its business.