Govt to Persue PMIZ Project in Madang
By : Post Courier
Prime Minister Peter O’Neill says the government will continue to pursue the multi-million kina Pacific Marine Industrial Zone (PMIZ) project in Madang.
Mr O’Neill said this while delivering his keynote address to the Pacific and global delegates, including policy makers and industry representatives.
The intent behind this project is to create a regional tuna processing hub for the Pacific region.
The Prime Minister said the funding arrangements were now in place and construction would commence soon affirming earlier announcements by the Minister for Trade Commerce and Industry, Wera Mori, that the China Exim Bank had agreed to fund the new project plan with a K350 million (USD 152m) concessional loan.
The project will be developed over 215 hectares (ha) of land, of which approximately 100 ha would host canneries and 115ha for residential and commercial purposes.
The Government expects the project will generate 30,000 jobs, and once fully developed, will house 10 tuna processing plants for tuna caught in PNG and the Pacific.
Meanwhile, the Prime Minister assured that the government of PNG is committed to building the necessary support infrastructure, which besides the PMIZ, include facilities which will enable fishermen and women and processors to bring their fish into ports in a timely manner and have them processed at a reasonable cost.
He said the government was exploring funding options for the Wagang Port in Lae, Morobe province, which will be a dedicated fisheries port.
“We want this critical infrastructure to commence construction soon.”