Plans set for new mart in Kokopo

By ABIGAIL APINA
THE East New Britain Development Corporation is looking at building a new supermarket in Kokopo.
This was revealed by executive chairman of the provincial government’s successful business arm, William Lamur recently.
He said while ENB Properties, a subsidiary of the corporation would be investing mainly in Port Moresby as there were very good returns there, “it will provide for the people in the province”.
“There are very good returns in Port Moresby but we will not forget our home base; this supermarket will serve the people well,” Lamur said.
He said the supermarket was estimated to cost up to K7 million and architects had started work on the project.
The supermarket is to be built behind Bank South Pacific Kokopo branch and next to Air Niugini.
It is expected to have the supermarket on the front of the ground floor, with offices and a warehouse at the back.
Its top floors are expected to have commercial space or residential space.
“We will not borrow money to fund the project, we will fund it from internal cash flows, and it is realistic,” he said.
He said a barge would be launched this year, an addition to the one operating under ENB Ports.
He said the existing barge had already been operating for eight months and had been plying the Bismark seas between Lae and Lihir on a contract with New Crest.
He said they expected to commission three barges by the end of the year.
“When I look at this year and going forward, we’ll probably be investing in capital work alone in excess of K50 million this year,” he said.
He said they had already invested in excess of K50 million in their businesses last year.
“We are undertaking a huge investment, there has been a phenomenal growth in the past four years and we are hoping that this year will all be about consolidation and growth.
“But certainly if there are opportunities which will generate money, we’ll consider them,” he said.