Kua: Big chunk to locals

By HELEN TARAWA
Petroleum Minister Kerenga Kua, pictured, says 35 per cent of the US$10 million (K 33.9 mil) to be used for the construction phase of the Papua LNG Project must be spent on engaging local companies.
Kua told the people of Gulf that it was among the issues negotiated during a meeting in Singapore last month. The Government wants a big chunk of the construction cost to go to landowner companies.
“We will organise our people so that they will form business units and they will support that.
“They have agreed in principle to look at maximising business opportunities for landowner and PNG-owned companies,” he said.
Kua said there were some issues with foreign exchange because the country was suffering from a shortage of foreign currency.
“The previous projects we had did not help us with foreign currency availability in the country so we have to make sure that this project must solve these problems,” he said.
“Every time PNG businesses want to go out and import things, they have these problems.
“They have agreed and they will discuss this with the Central Bank.
“We fought hard for the benefit of our people against considerable resistance and I’m pleased to say that we have succeeded.
“Our primary interest is to protect our people.”
Kua said Gulf had so much to offer but should be done in the interest of the people.