PNG Biomass will reach a final investment decision in the fourth quarter of 2018 for its proposed power plant located in the Markham Valley, Project Director Michael Henson tells Business Advantage PNG.
Infrastructure
PNG Power is aiming to cut tariffs by half and electrify 70 per cent of the country in the next five to 10 years according to Acting Managing Director Carolyn Blacklock. But to achieve those goals the organisation will require a new ‘business model’ she says.
There is growing interest in improving the way projects are managed in Papua New Guinea, according to Ian McMahon, Managing Director of the Australian Institute of Project Management. He outlines the key elements of a successful project.
A second major port in Papua New Guinea is expected to be completed in late 2019, says PNG Ports Corporation Managing Director, Stanley Alphonse. He tells Business Advantage PNG the K350 million project will include the greater Lae Tidal Basin Project and the Huon Industrial Park development in Lae.
Papua New Guinea has some ambitious plans to expand its population’s access to electricity. However, boosting electricity supply across the country requires ‘some very clever thinking,’ say energy analysts.
Treasurer Charles Abel said the rise of China is creating opportunities for Papua New Guinea. But he also pointed to potential risks and a need to develop PNG’s relationship with Australia.
According to the Asian Development Bank’s May 2018 update, contracts for the US$800 million (K2.5 billion) multi-tranche funding to rehabilitate Papua New Guinea’s 430km highlands highway will be awarded between August and September.
Improved access to finance could the rapid development of solar power, according to Jon Pittar, Managing Director of solar provider, Solar Solutions PNG. If the government is to achieve its energy goal of giving access to power to 70 per cent of the population by 2030, he believes solar-powered systems must be provided to rural communities.
Berry Mini, President of the Southern Highlands Chamber of Commerce, told Business Advantage PNG last Friday that there is an increased security presence in Mendi, particularly in front of key commercial and government buildings. The state of emergency is also affecting earthquake recovery supplies.
An K331 million undersea cable linking Papua New Guinea, Solomon Islands and Australia is expected to be up and running by the end of 2019. It follows concerns by Australian officials that if China’s Huawei telco built the project, it could access Australia’s telecommunications infrastructure, creating national security concerns.