Resource company worth K6 billion

THE Mineral Resources Development Company (MRDC) is worth K6 billion, chief secretary Isaac Lupari says.
Lupari, who is also MRDC board chairman, said over the last 10 years, the company had invested in assets and businesses that had recorded solid growth, delivering sound returns to its beneficiaries and contributing to PNG’s economic growth.
“MRDC invested in banking, airline, commercial properties, hotels and resorts,” Lupari said.
“These investments have provided thousands of jobs and created spin off business opportunities for Papua New Guineans.
“In the last 10 years, the value of our business has grown from K800 million to a massive K6 billion today.”
Addressing landowner leaders and directors of MRDC board at a recent end-of-year function, Lupari said the ‘Take Back PNG’ vision laid the platform for landowners to be at the forefront of national economic growth in 2020 and beyond.
“As we enter the second decade of this century, I can see landowners playing a leading role in the next phase of the nation’s economic progress,” he said.
Lupari said he was excited about the involvement of landowners in the power generation business through their company Dirio Gas and Power Ltd.