Israeli firm invests in farming

By GYNNIE KERO
A DELEGATION led by National Planning and Monitoring Minister Richard Maru toured the proposed site of several multi-million kina projects in the Sepik Plains, East Sepik on Monday.
Israeli firm, Innovative Agro Industry has assured the Government and the people of East Sepik of its commitment to invest and develop several agriculture projects on the Sepik Plains.
The firm’s chief executive Lior Crystal was part of the delegation that flew over the Sepik Plains on Monday.
The party on the aerial inspection included the Australian High Commissioner to PNG Bruce Davis and PNG Cocoa Board chief executive Kautu Boutua.
“I am here on behalf of the LR Group, Innovative Agro Industry, stating that we are committed to t detvelopment of this land. We are not only coming to develop, we are coming as an investor. We are putting our money where our mouth is,” Crystal said.
Innovative Agro Industry will develop an egg-laying farm, broiler meat farm and grain production.
The developer will also establish a modern cocoa plantation using Israeli technology that will produce 400 to 500 per cent more yield than an average cocoa plantation.
Boutua said with the partnership of Innovative Agro Industry, the Cocoa Board was keen to see a different result with the new technology and a new way of approaching agriculture development.
Maru noted that the country continued to spend K4billion in food imports each year. He said the Government would focus on replacing food imports and the Sepik Plains was high on their list of priorities.
“LR Group is waiting for the Government’s equity contribution of K14million in the joint venture between the State and the LR Group before work commences. We are going to include that in the supplementary budget in the next two weeks,” Maru said.
The project is expected to create thousands of jobs for locals and promote wealth creation. The project will also consist of a training facility that will provide extension services to all farmers in the area.
Davis said it was an honour to be asked by Maru to see the great opportunities in the district and province.
“I do think it is really important that for the future of Papua New Guinea and for the future of this district and this province, that a lot of emphasis is now put on investing in commercial activities, whether it be in agriculture or in other sectors,” Davis said.
Maru said the Government was looking to partner more investors for the special economic zone (SEZ).
He invitated Australian investors to consider the SEZ.
Prime Minister Peter O’Neill who visited Yangoru-Saussia in July last year to launch the Sepik Plains SEZ project at the station said employment and small business development would increase in East Sepik.
O’Neill said the zone would “change the lives of many and bring social and economic benefits to the people.”