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.
The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.
The Papua New Guinea government has set up a new authority to oversee the restoration of services and infrastructure, following the February 26 earthquake. As humanitarian relief work continues, analysts expect GDP to fall slightly.
Carolyn Blacklock has been appointed the new acting Managing Director of PNG Power. Business Advantage PNG talks to her about where the utility is headed.
Conducting stevedoring transactions in US dollars instead of kina is an opportunity to get in much-needed foreign exchange, according to Ted Muttiah, Director, Asia Pacific, for ICTSI South Pacific. He tells Business Advantage PNG the company, which has been appointed to manage new ports at Motukea and Lae, is aiming high.
Oil Search may look to list its power business on the Papua New Guinea stock exchange, Peter Botten, Managing Director of Oil Search tells Business Advantage PNG. He says that in 10 years he hopes the company’s production will have tripled.
The National Central District has launched an urban development program, which will run into the middle of next year. Governor of Port Moresby, Powes Parkop, said he will be looking to upgrade Port Moresby’s settlements and explore ways to offer residents title.
The Asian Development Bank has begun its decade-long US$1 billion investment in the Highlands Highway, according to David Hill, the bank’s Country Director for PNG. He says the ADB is also planning significant investment in the health and civil aviation sectors.
The government-owned Port Moresby water treatment company Eda Ranu is looking to bring more of its operations in-house. Chairperson Mary Karo tells Business Advantage PNG that preparations are also being made for APEC 2018.
Papua New Guinea businesses should expect income streams from October, 2017, as momentum builds towards the APEC summit in November, next year. The Director-General of the PNG APEC Authority, Sir Charles Lepani, told the Business Advantage Investment Summit in Sydney, towns outside Port Moresby will also benefit.