LNG project spent K183m on lancos

THE owners of the LNG project spent a total of K183 million on landowner companies (lancos) during the June quarter.
The PNG LNG Quarterly Report said the money went to goods and services that included road maintenance, supply of timber, plant and equipment hire and some community development projects.
“The total project-related spending on lancos to date has reached more than K1 billion, reflecting the work of the Enterprise Center and the project’s business development team in promoting local business participation in the project,” the report said. 
“Looking more broadly, total in-country project-related outlay on both lancos and non-lanco suppliers has reached almost K5 billion.
The report said to date more than K380,000 had been received by seven different lancos and landowners for the construction of 17 rainwater catchments.
While this is happening, other lancos are also taking advantage of business opportunities not directly related to project constructions to provide services to the project.
The report said four lancos from the plant site outside Port Moresby had formed a profit-sharing partnership with RH Trading Ltd to operate three commissaries at the plant site selling basic items to workers who previously travelled to Port Moresby for weekly provisions.