Lae wharf complete

 By GYNNIE KERO

THE US$292 million (K766m) Lae Port Project is completed ahead of time and set to be launched next Wednesday, the Asian Development Bank (ADB) says.

Country director of ADB’s PNG Resident Mission Marcelo Minc yesterday said: “The Lae Port Tidal Basin is the largest and one of the most complex projects ever undertaken by ADB in the Pacific.”

Independent Public Business Corporation managing director Wasantha Kumarasiri praised ADB saying, that was one of its biggest investments in the country.

He said the 2014 year for ADB and the State had been very fulfilling as a lot of projects these stakeholders partnered in are coming to a completion.

“The partnership with the state is very important because as we all know there are various sectors of infrastructure that need development.

“We (IPBC) are working with ADB with projects in electrification and aviation,” Kumarasiri said.

He said the high cost of power in the country was a constraint on downstream processing products.

“Some of our raw materials like fish, 90% of catch is exported; cost of power is expensive to carry out downstream processing.

“Power in PNG is one of the highest, if we get the power delivered to customers at a lower rate. Similarly in the communication, there is no communication grid.”

Kumarasiri appealed to donor agencies and those with bilateral relationships with PNG to assist in developing capacity of entities involved in the country’s infrastructure projects.

“There are resource gaps because everyday roads are not good, ADB alone cannot do it, so my appeal to other donor agencies is to contribute (in) driving projects.”