By CLARISSA MOI
Department of Commerce and Industry is in the process of identifying potential investors to issue land titles for the Pacific Marine Industrial Zone (PMIZ) project in Madang.
Commerce and Industry Minister Wera Mori told The National yesterday that there were a “good number” of interested investors for the project.
“We are basically trying to make sure that the investors come on board so we can give them the titles,” he said.
“They can be able to establish themselves in Madang.”
Mori announced last November that the Government would issue 10 land titles for investors interested in the multi-million kina PMIZ project in Madang.
“The Lands Department has already given us, the Department of Commerce and Industry, the 10 land titles,” he said.
“Once we identify the reasonable investors, we will then give them the titles through normal commercial arrangements.”
Commerce and Industry Secretary Andrew Liliura, during the announcement last November, said funding for the first phase of the PMIZ project was ready and waiting for National Executive Council (NEC) submission for funding through Exim Bank of China.
“We are expecting US$156 million (K525 million) to implement phase one,” Liliura said.
“This would include a berthing wharf, electricity, road
infrastructure and water supply.”
The PMIZ project is on 215 hectares of land with 100ha for canneries and 115ha for residential and commercial purposes.
It is expected that once fully developed, the PMIZ will accommodate 10 tuna-processing plants and create 30,000 jobs that will not only benefit Madang but also the Highlands and other coastal provinces.
By CLARISSA MOI