PMIZ project needs more funding

By Shirley Maludu
THE funding required for the Pacific Marine Industrial Zone (PMIZ) project in Madang has increased from the initial US$95 million (K294.79 million) about four years to US$150 million (K465.46 million), an official says.
Department of Trade, Commerce and Industry Secretary John Andrias, pictured, said that was because of improved designs for the project.
“It’s not really the scope but the total funding required has increased from US$95 million (K294.79 million) to US$150 million (K465.46 million) because of the improved designs,” Andrias told a media conference on Thursday.
“They just made available that amount of money but when the actual design was done, basically it needed more funding.
“As it is, we had issues with the impact communities and some NGO-sponsored group trying to say that this project will bring all negative effects on the local community and also in terms of land – that was the issue and they have taken (out a) court injunction as well so it delayed the project by three years.
“We had only four years to draw down and when everything was resolved, we were not able to do draw down.
“But the actual funding for the design, yes, a certain percentage was drawn down for the design and we improved from the design to this stage.
“The onus is now on the government. If there is political will and there’s need to secure funding, the design has been completed.”
Andrias said funding would cover the entire port – about 240m long.
“It can cater for the largest ships, container ships, so basically it is apart from fisheries, it has a separate wharf for the purse seiners, the fishing vessels. It is quite big. It is about 160m – that’s the magnitude of the project.
“Once the project is developed, we intend to host about 10 canneries. So far we have six.”