New investment drives growth

NEW investment in airport infrastructure should help drive growth in Papua New Guinea’s aviation sector ahead of the 2018 Apec meeting, according to the Oxford Business Group PNG.
Spokesperson Mwongola Leonie said this would help offset a recent drop in earnings.
“In early February, the Asian Development Bank signed an advisory agreement with PNG to develop a new passenger terminal at Jackson International Airport in Port Moresby,” Leonie said.
“The project would make use of a public-private partnership scheme, with a private company to design, build, finance, operate and maintain the airport’s new facilities.
“More details are expected to be made public upon the completion of a feasibility study yet to be conducted.”
Leonie said the agreement was part of ADB’s efforts to collaborate with the sector regulator, the National Airports Corporation, in upgrading 21 domestic airports across the country.
PNG has 14 airports that could handle big aircraft and eight small airstrips that could be used by prop-driven planes.
Last December, the ADB approved a third loan tranche for the Civil Aviation Development Investment Programme to move the country towards a more sustainable airport network.
The third tranche is earmarked for improvements and upgrades to nine national airports that have a low level of safety and security compliance, extending runways and aprons, strengthening the pavement, and building traffic control towers and terminals.
Other works financed by the ADB’s second tranche are continuing, including an upgrade of the Goroka airport in the Eastern Highlands.