Local trade store records high turnover

Business, Normal
Source:

The National, Thursday 25th April 2013

 A LOCALLY-owned trade store selling food items and clothing in Gulf has recorded a remarkable turnover of K95,000 in its first 90 days of operation.

Elk-Antelope Gas Company Ltd managing director Albert Kerut said the result was driven by the low price of goods and the location of the store.

He said people demanded for more goods, if they were isolated, thus resulting in a good business environment. 

InterOil assisted the landowners with the trade store so that they could generate income.

Given the positive outlook, the company is targeting investments such as a fuel depot, department shops and real estate businesses once the Gulf LNG including the Purari Hydro Power projects begin.

It is also involved in labour hire.  

There are about 100 workers hired, InterOil says.

The company has been recognised by project developer InterOil and the government through Governor Havila Kavo as the umbrella company for the Pawaian area. 

InterOil said there was no reason why other companies could not do a joint venture and bid for any part of any contracts that were put up for tender. 

“They would be assessed like anyone else, on their commercial merit.”