RAMU NiCo’s investment in Madang Province has created huge demand for local business houses and consequently has stimulated both Madang anPNG’s economic development through local procurement.
Chairman and Director of Ramu NiCo Management (MCC) Ltd, Zhao Shimin, revealed this duringthe signing ofthe Ramu NiCo Project revised Memorandum of Agreement this week in Madang.
Chairman Zhao says over K600 million was spent in infrastructure development and provided business opportunities to landowner associations and Madang as a whole.
From 2001 to 2012,the total business opportunity contract value given to landowner companies reached K61 million.
The economic status of landowners has been improverd and landowner companies at different levels were able to develop and expand.
Chairman and Director of Ramu NiCo Management Limited, Zhao Shimin said most ofthe benefits delivered were underthe old 2002 MOA and all were settledthe construction phase ofthe Project.
This week over 2000 people fromthe project impacted areas withnessed Ramu Nico signthe revised MOA with Mining Minister Beron Chan, Madang Provincial GovernmentoMineral Resource Authority and relevant stakeholders.
Madang Governor, Jim Kas and Usino-Bandi MP, Anthon Yagama thanked Ramu NiCo for the positive changes towards Madang and pledgedtheir support to ensurethe Project is a success.
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