Prime Minister James Marape warmly welcomes the renowned international hotelier, Radisson Hotel Group, as they announced their partnership with Paga Hill Special Economic Zone (SEZ) to develop a K700 million Radisson Blu branded hotel on Paga Hill in Port Moresby.
Prime Minister Marape emphasized the significance of Radisson and other companies aligning with Paga Hill SEZ.
“They are in the right place at the right time in a country that will see unprecedented growth starting in 2024 and for the next 10 years,” Prime Minister Marape said.
“The economic potential of Papua New Guinea is possibly bigger than most nations in this region.”
Prime Minister attributed this anticipated growth to six major resource projects, including the reopening of the Porgera mine, the Special Mining Lease (SML) and Mine Development Contract (MDC) for the Wafi-Golpu mine, the Final Investment Decision (FID) for Papua LNG, P’nyang LNG, Pasca LNG, and a promising new LNG discovery by Exxon Mobil in the Eastern Papuan Fold Belt.
He further highlighted Papua New Guinea’s long-term trajectory as an LNG and mineral-producing nation up to 2060 and beyond, emphasizing the country’s commitment to downstream processing.
“With these major projects underway, Radisson Blu will benefit from a robust clientele once construction activity picks up,” Prime Minister Marape stated.
“Our government is actively advancing downstream processing of our resources, anticipating a significant surge in economic growth over the next 10 years.”
