Gulf govt takes on adviser

 GULF Governor Havila Kavo last week signed a contract to engage an investment adviser to assist the business arms of the provincial government.

Frontier Equities Ltd will provide specialist investment and corporate advice to prepare the province for the Gulf LNG project and other developments.

Kavo said the Gulf was an emerging industrial province and needed a competent company to help it design and plan its expansion and source investment.

“It is my belief that this company will help the provincial government realise its development aspirations and visions captured in the Gulf Vision 2020,” he said.

The company has a small team which has been involved in similar work with the development of the first LNG project in Southern Highlands and advising land owners in Central to establish umbrella companies.

Kavo said he had confidence in the company and was honoured to engage it.

“We are making preparations beforehand so that the national government does not come in and question our plans,” he said.

Kavo plans to turn the rundown Kerema town into a bustling city to rival Port Moresby.

“Planning will take K10 million to K20 million and the first phase will take well over a billion. My message to the people is they must prepare themselves,” he said.

“This is not a trial, we are serious.”

Kavo has directed oil companies InterOil and LNG developer Total to carry out extensive social mapping so that all genuine land owners were properly recognised and compensated.