Business Momase News

PNG’s Industrial Hub Taking Shape

by Edwin Fidelis – EMTV, Lae

Lae can be expected to see more of its impact projects, such as the Lae tidal basin and road upgrades coming into full operation in the next two months. 

Speaking at the opening of the Lae wharf extension in Lae today, the Prime Minister, Peter O’Neill, said Lae will also feature prominently in the 2015 national budget.

There’s no clear figures given on how much Morobe province will get in the 2015 budget, but Mr. O’Neil said, the government’s plan in transforming Lae into an industrial hub, is working.
The focus now is to turn Lae into an industrial hub in the pacific.

” It is the industrial city of our country, lot of businesses are taking place here, lot of export taking place here…it is important that we build an infrastructure that will cater to these developments”, Mr. O’Neil said.

This port facility is another inclusion of what would become, the main drivers of PNG’s economic growth.

The Prime Minister, who came to commission the opening of the facility says, the government has more money for Lae.

“We have invested over a billion kina in Lae City port alone”, Mr. O’Neil said.

Today, the PNG port services, commissioned their new wharf extension.
Lae port gets about 200 million tonnes of cargoes every month.

Cargo volumes have increases since 2006, giving an indication of strong economic growth.

Over the next two months, Lae will be opening several other impact project, the Lae tidal basin project, and the Lae city road upgrade.

Lae will be the gateway to inland resource development projects, such as the Hidden Valley mines in Bulolo and the LNG project in Hela province.

Their supplies will land here first before its transported inland.

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