Ihu project gets K80mil boost

CHINA is providing a 150,000,000 million renminbi (around K80 million) grant for the Ihu Special Economic Zone (ISEZ) project in Kikori, Gulf.
Chinese Ambassador Zeng Fanhua signed the economic and technical cooperation deal with acting Prime Minister and Kikori MP Soroi Eoe in Port Moresby on Friday. Eoe said Prime Minister James Marape had decided that the grant should go to the project.
Eoe thanked China for the grant and said both countries had continued to enjoy close diplomatic and bilateral relations.
He said about 80 per cent of discovered oil and gas was in his district.
“Kikori is the host of many projects, but there has been no infrastructure,” Eoe said.
“This is one area that the Government has recognised.
“If we are to harvest resources in Kikori, we need to prepare the people for projects that are coming.”
He said the ISEZ would provide about 12,000 jobs that would boost the economy and the lives of the people.
Ambassador Zeng said the grant was announced during a visit to China by Eoe as the Foreign Affairs and Trade Minister in June.
“The agreement signed today are the latest fruits of our bilateral relations and reaffirm China’s commitment to developing a comprehensive strategic partnership with PNG and supporting Papua New Guinea’s economic and social development in a challenging time,” he said.
“I believe that with our joint efforts, our bilateral relations and cooperation will bring more tangible benefits both to the Chinese and the PNG people.”