Increasing private sector involvement in Papua New Guinea’s state-owned enterprises (SOEs) would be a ‘powerful mechanism’ for improving the sector’s efficiency, according to a new report by the Asian Development Bank.
Kumul Consolidated Holdings (KCH)
Officials sent to negotiate with Hides landowners over non-payment of royalties from PNG LNG project, Ok Tedi earns K623 million since March, and PNG Post pays K500,000 in dividends. Your weekly digest of the latest business news.
Global and domestic factors have combined to slow Papua New Guinea’s economy. However, as Andrew Wilkins discovers, the Pacific nation’s business leaders are still confident about its future prospects.
Papua New Guinea has participated in its first report to the Extractive Industries Transparency Initiative (EITI), which is a global effort to improve transparency in resource rich countries to help them avoid the so-called ‘resource curse’.
Duma to review SOEs before privatisation process, Santos reported to be selling PNG LNG stake, KCH receives study on proposed 1800MW hydro dam. Your weekly digest of the latest business news.
An analysis of Papua New Guinea’s three main power grids has revealed that inadequate maintenance of plants and the transmission lines is the primary cause of frequent power outages, according to a review conducting by London-based consultants, Economic Consulting Associates. The review also comes with some recommendations.
The Ramu 2 Hydro Power Project is expected to increase total electricity generation capacity in Papua New Guinea by 36%, according to the Managing Director of Kumul Consolidated Holdings, Garry Hersey. It’s one of five new energy projects launched recently.
In brief: Oil Search fends off takeover offer after Woodside shelves bid, and other business stories
Woodside drops takeover bid for Oil Search, coffee pulper machine installed for smallholders in Jiwaka Province, and market conditions force Hides Gas Development Company to cut workforce. Your weekly digest of the latest business news.
Eleven years after the Papua New Guinea government’s National Executive Council approved the scheme, the Pacific Marine Industrial Zone (PMIZ) in Madang Province has finally been launched, with local business leaders saying it will reduce freight costs, speed up transport and reduce congestion at Lae’s wharves.
Heim leaves Deloitte for Kumul Consolidated Holdings, a new Managing Director for Santos in 2016, and Harmony Gold appoints new CEO.