A new opportunity has opened up for an investor looking for a joint venture in the East New Britain Province.

White copra in East New Britain Province. Credit: PNG Buzz

Green Bay Copra Buying (GBCB) is a small indigenous company from the East New Britain Province (ENBP) established in 2018 and specialized in buying copra from small-holders at the grass
root level and supplying them to the local markets and also foreign markets via locally established foreign-owned copra exporters. This project aims to enhance the business activity of copra buying targeting global demand. The implementation of this project will directly enhance the small-holder’s market accessibility including the creation of employment for women and youths and therefore enhance better living standards for the rural population in the ENBP.

Currently, the project owner is manually processing the copra and selling the dried copra to foreign buyers in the province without further processing to final products and therefore seeking to partner with potential investors to build a downstream processing plant for copra in the province.

The project’s long-term focus would be to establish a local downstream processing plant for copra export. The project site is strategically located with all utilities connected and it is close to the ENBP main wharf. The project is seeking a potential investment partner who is expected to contribute towards the establishment of the additional production facility, purchase of new machinery and equipment, joint development of new products, and the establishment of storage or distribution/ sales outlets. The project is further seeking other collaboration for market access (domestic/foreign), access to affordable production materials and components, technology and know how expertise for the employee, and joint research and development of new products.

The project strengths are:

• Strategically located in the Rabaul township area with all utilities connected
• This project is part of the National Government’s priorities
• Existing connection and good relationship with the local copra farmers
• Access to local copra buyers and exporters *Access to established mini-processing facilities
• Access to existing machines and equipment
• Availability of skilled workers being sent for training to build their capacity

Project sector: production, processing and preservation of meat, fish, fruit, vegetables, oils and fats.

Project campaign: PNG_IPA_2022

Project code: I-PNG-220824-032954-1

Projected annual sales: €7.8M

Products or services resulting from project: vegetable oils, coconut (copra) oil and its fractions, other than crude, whether or not refined, but not chemically modified.

Opportunity type: Establishing a joint venture

Project country: PNG

Projected employment: 19

Non-disclosure agreement (NDA): No

Total investment (Funding Gap): €4.9

Advertiser:  Investment Promotion Authority (IPA) Website: https://www.ipa.gov.pg/ Email:  ipa@ipa.gov.pg Phone: