In brief: Cost of running APEC close to K1 billion, and other business stories

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Treasurer Charles Abel puts APEC cost between K900-K1 billion, feasibility plans for five ports, export licences for bech-de-mer likely to be slashed. Your weekly digest of the latest business news.

PNG Forest Products plans fourth hydro power station as it diversifies

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Forestry and timber company PNG Forest Products is expanding its diversification program as it prepares to build a fourth hydro power station. CEO Tony Honey tells Business Advantage PNG that its plan to build timber bridges and decking for export and domestic clients is also starting to get traction.

How one town in Papua New Guinea found life after the gold rush

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Sustainability and value-adding are repeatedly stated as the goals for Papua New Guinea’s forestry sector. Ian Neubauer visits Bulolo in Morobe Province, an old gold-mining town that has re-invented itself with a sustainable timber industry.

Papua New Guinea forest industry leaders call for ‘affordable housing’ project to be completed locally

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It’s critical for the future of Papua New Guinea’s forestry and manufacturing sectors that the Government’s planned 40,000 ‘affordable houses’ be built in PNG by local suppliers, industry leaders tell Business Advantage PNG.

People moves: PanAust, Rio Tinto, Indochine Mining, Coppermoly, PNG Forest Products

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PanAust Managing Director stepping down, new board members at Rio Tonto and IndoChine and other senior appointments.

New power plants for Moresby and Lae to be privately built

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State utility PNG Power has been authorised to start negotiations with Hong Kong-based liquefied gas and power company, Energy World Corporation, to build a new 30MW-to-80MW diesel and gas-fuelled power plant in Port Moresby.

First public-private hydro plant opens in Morobe

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PNG’s first privately-built hydro electricity power station has opened in Bulolo, Morobe Province.

Profile: Niu Homes, new approach

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Niu Homes has a 30-year history of providing buildings for Papua New Guinea’s residential and industrial sectors, from 24-room complexes for mining camps to family homes. A division of PNG Forest Products, Niu Homes makes buildings which use renewable plantation pine and are entirely designed and made in Papua New Guinea. Its services extend from […]

Sector profile: Forestry

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Papua New Guinea’s forestry sector has bounced back from the 2008/9 slump, and is looking to value-adding, together with sustainability and traceability practices, for its growth. Papua New Guinea has immense forestry operations, with some 29 forest concessions covering 3.5 million hectares. Eight-four percent of PNG’s landmass is covered by forest, and 5.7 million hectares […]

Competitiveness and PNG goods

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Papua New Guinea’s producers are continuing to profit from the country’s unprecedented economic boom as well as high international commodity prices, but they still face a mighty array of challenges. Made in PNG asks what factors influence the demand for PNG goods at home and overseas. You might assume that, given its low per capita […]