MRDC hailed for its focus on investment

Business, Normal

The National, Thursday September 3rd, 2015

 GOVERNORS of Western and Southern Highlands provinces have praised the Mineral Resources Development Company for spearheading their landowner companies’ investments both in PNG and abroad.

Western Governor Ati Wobiro said the launching of the multi-billion kina Star Mountain Plaza in Port Moresby was a result of exceptional teamwork and partnership between the state, two provincial governments and three landowner companies.

The Star Mountain Plaza will be constructed over two stages, the first stage to consist of a 212 room five-star Hilton Hotel, 3900 square feet of the multi-level convention and performing arts centre and a 160 apartment residential tower.

The world class project is a joint venture of the Petroleum Resources Kutubu (Southern Highlands), Mineral Resources Star Mountains (Western) and Mineral Resources Ok Tedi (Western) and the State.

Southern Highlands Governor William Powi said the launching of the Star Mountain Plaza project was the dawn of a new era in landowner investment diversification.

“My people are beneficiaries of the Kutubu Project and we are proud to be part of this investment,” he said.

“The people of Southern Highlands have been blessed with the Kutubu Oil Project and now the PNG LNG project, and have supported the growth of PNG’s economy since oil extraction started in the region in the 1990s to date.  

“With a project (Star Mountain Plaza) of this scale and magnitude in our own country, the game has changed. 

“We not only sit on the receiving end of the spectrum as ‘rent collectors’ of our land, but rather, business men and women.”