By Delly Waigeno – EM TV News, Port Moresby
The Pacific Marine Industrial Zone Project in Madang reached a significant stage today with the State entering into the Heads of Agreement with Water PNG Limited.
This will see Water PNG share the costs and risks for the development and provision of water solutions to the PMIZ.
Secretary for the Department of Trade, Commerce & Industry, John Andrias, thanked Water PNG for its desire to work with the government.
The Heads of Agreement for supply of water to PMIZ was signed between Commerce Secretary, John Andrias, and the CEO and Chairman of Water PNG today at the Government House.
Mr Andrias assured that the PMIZ Project is on a solid path to being developed into a major regional marine industrial hub for on-shore processing of PNG’s rich tuna resources.
Water PNG Chairman, Bill Sweet, said this is the first time for the State Owned Entity to enter a project through a commercial approach.
Water PNG CEO, Raka Taviri Jr., said the first stage of the project will look at setting up the pipeline and cost between K20 – 25 million. The second stage of the project will look at water extracting and full treatment. It will cost about K120 million.
The State is also set to enter into similar agreement with PNG Biomass, a joint venture between Oil Search and Aligned Energy for the independent power supply project next week.