Money put back in

The National Business

By LEMACH LAVARI
Hargy Oil Palms Ltd general manager Graham King says its parent company has been investing its dividends into growing the company in Papua New Guinea.
King said parent company Société Internationale de Plantations et de Finance (SPIEF) poured all earnings back into the country. SPIEF is a Belgian agro-industrial company which owns 100 per cent of Hargy.
King said Hargy paid the Government K25 million in taxes and made a revenue of K360 million last year.
“It has taken 40 years for Hargy to generate a significant amount of money for the country,” he said.
“If you want to invest in agriculture or any business in PNG you’ve got invest for a very long time.”
Hargy produces 160,000 tonnes of palm kernel oil for export to Europe.