K480mil project to bring in jobs

By CLARISSA MOI & Gynnie Kero
THOUSANDS of jobs are expected to be created when a multi-million kina agriculture project begins in East Sepik in August, according to Commerce and Industry Minister Wera Mori.
Mori, pictured, yesterday announced that New Zealand firm Eldoncorp Holdings Limited was investing US$150 million (K480.5 million) in the Nungwaia Bongos integrated agriculture project. The project covers parts of Wosera-Gawi and Ambunti-Dreikikir districts of East Sepik, and parts of Aitape-Lumi district in West Sepik.
It was approved for implementation in 2009.
“Unfortunately the former developer of the agriculture project pulled out for reasons only known to itself,” Mori said.
He assured Eldoncorp Holdings Limited of Government’s commitment to the project.
He said landowners in the project area had been organised and preliminary compensations paid,” Mori said.
“This project is purely based on a commercial arrangement.
“The benefits to the landowners are guaranteed.”
The project will be launched in East Sepik after getting legal clearance from Government agencies and the National Executive Council.