IPBC inspects port job

THE Independent Public Business Corporation has said it is satisfied with the phase one progress of the Lae tidal basin project under developer China Harbour Engineering Company with phase two of the project hinging on a National Executive Council decision expected in the coming weeks.
IPBC managing director Wasantha Kumarasiri (pictured) and his team of advisers yesterday flew into Lae and met with IPBC project director Ila Mari and CHEC project manager Jianhua Ma before touring the project site.
Kumarasiri, in his third visit to the project site, expressed satisfaction on the part of CHEC as it concluded phase one of the project this year.
The project’s phase two required a NEC approval and preliminary estimate for funding would be completed next week for submission to the government for funding.
“IPBC is responsible for the execution of the implementation of the Lae tidal basin project and it is part of my duty to make regular visits to the site and ascertain the progress made,” Kumarasiri said
“This project is funded by Asian Development Bank and the government of Papua New Guinea as the financial co-funder and we are thankful towards ADB and the government for their continued support.”
“The government has allocated K400 million this year and the  visit will ascertain the progress of the project and to start its phase two.”
The second phase was expected to start next year with Kumarasiri assuring the business community in Morobe and the country that they would benefit immensely after its completion.
Kumarasiri said the port extension, which would see bigger vessels coming, will have bigger storage capacity from 3,000 to 4,000 containers.