Marine industrial zone to get K600m loan to build two wharves

The National Business

By LEMACH LAVARI
The Pacific Marine Industrial Zone in Madang will commence after the Government receives the US$156 million (K597mil) loan from the Exim Bank of China, says Commerce and Industry Minister Wera Mori.
Mori told a Port Moresby Chamber of Commerce and Industry (POMCCI) breakfast at the Royal Papua Yacht Club that the money would be used to build a fishing wharf and a container wharf.
“I have written to the Treasurer to proceed on to draw down the US$156 million to build the two wharves,” he said.
Mori said his department would submit a proposal to Cabinet for
a business case study for the
PMIZ.
He said the study would attract investment partners to help build key infrastructures that would make the PMIZ viable.
These include:

  • 40 mega-litres of water supply;
  • 40 megawatts of electricity;
  • fuel farm to supply fuel to shipping vessels;
  • cooler storage warehouses;
  • quality control facility;
  • occupational health and safety; and
  • Drainage and waste management system.

Mori said once these infrastructure and wharves were built, his department would proceed to seek investors to build fish-processing facilities.
“Our objective is to set up 10 tuna-processing facilities in Madang,” he said.
“For that to happen we must have the key enablers.”