After a challenging 2023, Papua New Guinea’s port and road transport operators are preparing for a significant recovery in demand this year.
PNG Ports Corporation
Freight volumes into PNG’s two major international ports, Motukea and Lae, were up substantially in 2022. New resources projects and transformative investments look set to drive further expansion.
Acting CEO appointed at PNG Ports, new Chairman for Credit Corporation PNG, Mayur Resources Limited welcomes new Resident Director, and Kacific appoints Managing Director of the Pacific.
Delegates to last week’s 2022 Business Advantage Papua New Guinea Investment Conference received an overview of the plans of the new Marape government, as well as detailed economic updates and a range of briefings on opportunities across the country’s key economic sectors.
Head of bank comments on foreign exchange improvement at the end of last year, alluvial mining reserved for Papua New Guineans. and Santos reports record profits. The business news you need today.
This week saw the announcement of AUD$580 million (K1.45 billion) in financing support from Australia for Papua New Guinea’s ports. PNG Ports’ Managing Director Fego Ota Kiniafa outlines how the money will be spent and how the state-owned entity has managed the challenges of the past year.
A project to build a refinery and mint facility in Port Moresby could put Papua New Guinea in the ‘world gold map’, Bougainville to receive K50 million electricity support package, and new agribusiness development in Western Province. The business news you need today.
The Internal Revenue Commission’s potential plans for state-owned enterprises debt to be repaid, Fiji welcomes Kina Bank, and Link PNG’s proposed acquisition of PNG Air rejected again. The business news you need to know today.
St Barbara has suspended operations of its Simberi project until it is safe to restart, Air Niugini relaxes COVID-19 restrictions for national flights, and global shortage of storage containers might impact Papua New Guinea’s trade. The business news in brief.
Port operator International Container Terminals Services is looking to improve efficiency at Papua New Guinea’s ports, and opening the way for new business opportunities.