By Hope Imaka – EM TV Online
Prime Minister, Peter O’Neill, is scheduled to launch the construction phase of the Pacific Marine Industrial Zone (PMIZ) project in Madang Province today.
Valued at US$235 million, the PMIZ is one of the major Economic Impacts Projects approved by GoPNG.
The project aims to promote the development of basic infrastructure and to reduce post-harvest losses via the construction of modern fishing port complex in Vidar Plantation – Madang, so as to increase supplies of aquatic products.
According to the recent Pacific Tuna Forum held in Fiji, this project is anticipated to boost the annual tuna catch in PNG from US$1.35 billion to US$2.7 billion.
The project is expected to serve as a catalyst for the burgeoning tuna processing industry, which is already operating not just in PNG’s territorial waters, but also across the entire region.
Prime Minister O’Neill will meet with the provincial government, business community and people from the Province after the launch.
O’Neill is also expected to announce a number of big initiatives and new government policies during the launch event.