Gulf landowners approve port project

[maui4marko]

>> Surfacing for a breath of fresh air, before heading back to the cellar lol.  PalmTree - does this mean our oreo bay water skiing days are over?!?

Gulf landowners approve multi-billion kina Paia Inlet Port project

http://www.businessadvantagepng.com/wp-c...n-time.png); padding: 2px 0px 2px 21px; background-position: 0% 0%; background-repeat: no-repeat no-repeat;" title="2014-01-29T14:33:51+00:00">29 Jan 2014 by Business Advantage http://www.businessadvantagepng.com/wp-c...mments.png); margin: 0px 0px 0px 10px; padding: 2px 0px 2px 22px; background-position: 0% 0%; background-repeat: no-repeat no-repeat;">Leave a Comment

Gulf Province landowners have approved the long-awaited multi-billion kina Paia Inlet Integrated Development Project.

Gulf Province

The seven billion kina project has been on the drawing boards since 2005.

It includes the redevelopment of regional roads, a seaport development on the Kikori River at Wowobo, an industrial centre and township.

Government agencies assisting the development include the PNG Ports Corporation Ltd, Industrial Centres Development Corporation, Office of Urbanisation & National Housing Corporation.

Aerial view of proposed Paia Inlet port and industrial centre at Wowobo

The port will primarily serve Gulf Province oil and gas projects, as well as the proposed Purari River Hydro development scheme.

The Gulf Provincial Economic Development Authority has set up the PAIA Inlet Infrastructure Development Company (PIIDC), in which the Gulf Provincial government holds a 85 per cent shareholding and Hela province holds 15 per cent.

Gulf Governor Havila Kavo, and the chairman ofPIIDC, said the project would make it the economic hub in the Province.

US-engineering form Aecom will carry out the technical work with KPMG as Project Adviser. A loan for the development has been sought from China’s Exim Bank.

[Palm]

We can still ski there Maui, just may need to move the operations further north, especially the beer delivery business. The port business will be at Paia Inlet instead of Oreo Bay, but we still get the same tax incentives as before.

[jft310]

How can they possibly do this ?.Bonk told me they don't have enough NG for an LNG plant .

Govt roads help a port paid for by the govt is a big deal.

[Palm]

This has been posted before, but this presentation on the project was made just after O'Neill was elected PM. High priority and will greatly benefit many projects; both mining and LNG, including IOC's. There are many slides which show and comment on IOC's LNG project in Gulf. Note the road system which is a very important part of this. It connects Kerema to the Highlands and of course goes all the way to PM.

http://www.businessadvantageinternationa...t.pptx.pdf

[sageo]

Maui - Good am to you! Thanks for your post Also, I just saw the new press release on the completion percentages of our upcoming drilling sites!! Good of ioc to give us the update. HAGD!