O’Neill hails landowners’ faith in project

Business, Normal

The National, Friday September 4th, 2015

 PRIME Minister Peter O’Neill has praised landowner companies in Western and Southern Highlands for their confidence in investing in the billion-kina Star Mountain Plaza Hotel.

Speaking during the launching of the hotel on Wednesday evening, O’Neill said returns on the investment would be sustainable for the landowners well into the future. 

“I thank the management and board of MRDC (Mineral Resources Development Company) and the landowner companies (Petroleum Resources Kutubu, Mineral Resources Star Mountain, Mineral Resources Ok Tedi) for having that confidence in investing in such a project,” he said.

“It is going to provide benefits to the landowners in the remote communities well into the future, when after the projects are closed and of course, after the projects have been developed fully. 

“I think this investment will continue to benefit the future generation of our country.”

O’Neill acknowledged MRDC for the foresight in making such an investment for landowners of resource projects in the country.

“MRDC has taken a right approach in the development of assets of the landowners throughout the country.

“Under the chairmanship of Sir Manasupe Zurenuoc, his board and the management of Augustine Mano and his team, we have seen a huge growth in the asset of MRDC after many years of struggle in building this particular organisation,” O’Neill said. 

A management agreement was signed early last month between MRDC and Hilton Worldwide which would see construction of a 5-star 212 premium room hotel in Port Moresby. 

The Hilton Port Moresby is part of MRDC group subsidiaries latest development project, the Star Mountain Plaza. The Hilton Hotel complex would include four restaurants and two bars, a business centre, health club, spa and outdoor pool and event spaces.