Offshore funding to finance Morobe super highway

National, Normal

The National, Tuesday October 29th, 2013

 THE Lae-Nadzab super highway project had been awarded under a new category known as the “silver book”, according to Transport secretary Roy Mumu.

He told a workshop that looked at the need for technical audits on public-funded infrastructure projects that the ‘silver book’ waived existing procurement and tendering processes. 

The project is on a fixed price of K800 million.

“It is the first of its kind to be applied in the country,” Mumu admitted. 

Mumu said the silver book was applied because the project was financed from off-shore and not by the Government.

“The silver book is used when the government does not have the money.”

The Lae to Nadzab four-lane highway costs K800 million. 

It comes from a K6 billion loan from the Exim Bank of China.

Independent Public Business Corporation official Illa Marai was quick to deter further discussion, saying the details of the arrangement were still being worked on.

“We can discuss this further at a later date,” Marai said.