PNG Government commits K300 Million to Star Mountain Plaza hotel

BY KEVIN TEME
THE PNG Government has committed K300 million for the building of the five star hotel – Star Mountain Plaza at Hohola in Port Moresby.

Managing Director of Mineral Resource Development Company Augustine Mano confirmed this yesterday on a tour of the site.

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Mr Mano said this is a milestone in itself as it is also the first time the government has partnered landowners in a major project as such.
“The State participation on this project shows a true partnership in every sense between the landowners and the government. We’ve had two NEC decisions, one in 2014 on the concept which the government had approved through the NEC and the second was in 2015 which is the project agreement,” Mr Mano said.
He revealed that the Government lived up to its commitment and has now committed K300 million for this project. “I want to thank you the government in having faith with the landowners to invest in such an iconic project like this,” Mr Mano said.
He said the project comprises two phases, the first of which will be completed two months before the APEC meeting in November 2018 while the second phase will continue thereafter.

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The project is being constructed at a cost of K1.2 billion with landowners as major shareholders at 80% and the government with the remaining 20 percent.

He reiterated this was a first such collaboration between landowners and the State.

Meanwhile, project manager Brian Eldridge said stage one includes the Hilton hotel, convention center, combined facilities and car park while stage two will include Hilton residential tower with 200 apartments.

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“The earthwork contract, negotiated with Vuksich and Borich (PNG) Ltd is delivered on budget including the car parks which has been completed and also on budget,” Mr Eldridge said.
He said 30,000 cubic meters of bulk earth works has also been completed and the hotel structure is complete.

Mr Eldridge said the convention center roofing laminate will commence on July 3 and will be completed by November 30 this year.

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