25.8 C
Port Moresby
April 7, 2020
Business Momase News

Berth Demand Increases As Economy Grows

by Edwin Fidelis – EM TV, Lae

Apart from the Lae’s Tidal Basin project, PNG Ports has invested in another multi-million kina wharf facility in the Morobe Province.

The berth length of the overseas wharf facility was extended by an extra 100 metres from its previous 655 metres, costing K100 million.

It has the capacity to cater to 68 overseas vessels that come into Lae every month.

Due to the growth in Lae, the wharf facility is expected to become one of the major trade links for PNG with overseas countries.

The prime minister, Peter O’Neill and the state enterprise minister, Ben Micah will officiate at the opening of the wharf facility in Lae tomorrow.

While the PNG Ports Cooperation is looking at reducing congestions and increasing berth space, it is also eyeing the new berth facility as a big revenue driver for the country.

According to the PNGPCL, Lae port handles 200 million tonnes of cargos every month.

“In recent years, business for the port has grown significantly, driven by the economy and it is important that Lae is maintained as a well-functioning and efficient port to effectively manage the movement of freight between sea and land transportation,” Said Stanley Alphonse, PNGPCL chief executive officer.

Cargo volumes have increases at a rate of 7.7 per cent, between 2006 to 2011.

This represents a strong economic growth with more revenue contributed into the country’s economy through these port facilities. 

Most of the supplies for mines and other resource development projects in the highlands will land here first before it is transported inland.

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