Govt plans large-scale development for oil palm

PRIME Minister James Marape says he is keen on supporting the development of Papua New Guinea’s oil palm industry on a massive scale.
Marape pledged his government’s support after he and East Sepik governor Allan Bird met with representatives of the Pacific Elite Palm Oil Group in Singapore on Monday.
The company currently runs an oil palm project in East Sepik and is looking to start similar projects in other provinces which would eventually see PNG’s palm oil exports rise.
The company aims to be the Pacific’s largest palm oil producer with offshoot benefits in power generation and other applications.
Bird said the country would benefit from a long-term oil palm development plan which would be a significant agricultural producer for the country’s economy earning billions of kina over its life.
“We can double our GDP just from palm oil,” he said.
“The other flow-on to the economy is power production that fits into the grid, carbon credits, increased cattle production, as well as jobs.
“Palm oil is amazing because you can do so much with it, including green energy, which can be generated from palm oil waste.
“If we have 33 operations throughout PNG, similar to what we are doing in East Sepik, 100,000 jobs would be created,
“This is brilliant.”
Bird said palm oil had the potential to be a biofuel as well and could save the country millions of kina.
“If we produce enough palm oil, we don’t need to go out and buy fuel, as we can produce our own,” he said.
“It can also bring down inflation.
“I’m excited because it provides us an escape plan from all these things that are affecting us.”
Marape welcomed the proposal by Pacific Elite Palm Oil Group and Bird ideas adding that East Sepik already had thriving vanilla and cocoa industries as agricultural success stories.
The PM invited company spokesman Alexander Tho to visit PNG and he would get state entities and the super funds to support the venture.