Tuesday, April 24, 2012

IPBC: Ramu hydro, Lae port projects to transform Momase

The K2 billion Ramu hydro scheme and K700 million Lae port project came under the scrutiny of the Independent Public Business Corporation board last Thursday, The National reports.
These two major IPBC projects promise to transform the Momase region and were the focus of the IPBC board meeting in Lae.
Work progresses on the Yonki ‘Toe of Dam’ project.

IPBC managing director Thomas Abe said the two projects would “change the game completely” for the Momase region.
“These would be significant projects anywhere in the world, with expenditure on Lae port estimated at K700 million and the three stages of the Ramu project at K2 billion,” he said.
“For the Momase region, they change the game completely.
“Not only will they expand Momase’s economic capacity across all sectors, they will create thousands of new jobs, directly and indirectly, and bring work to hundreds of small local businesses and sub-contractors.
“The days of constant power blackouts crippling local business and causing household havoc for ordinary Papua New Guineans will be over.
Work progresses on the Yonki ‘Toe of Dam’ project.

“The obstacles to regional businesses and economic development posed by the inefficient, outdated and inadequate Lae port will be removed.”
 Abe said the board meeting in Lae was very timely, with IPBC moving ahead with both projects as fast as reasonably possible.
Construction work is expected to start on Lae Port on May 8 and the ‘Toe of Dam’ phase of Yonki is expected to be completed by the middle of next year.
The new port facilities, funded 70% by the Asian Development Bank and 30% by the national government through IPBC, include a tidal basin, a berth and a terminal.
All are expected to be completed in 2015.
 The Ramu project is in three phases - Yonki power station rehabilitation, Yonki ‘Toe of Dam’ expansion and the proposed new Ramu 2 dam and power station – and would increase generation from 45 megawatts to between 180 and 240 megawatts.
A feasibility study is being undertaken by the national government through IPBC in partnership with PNG Energy Developments Limited, a 50-50 joint venture between PNG Sustainable Developments Program Ltd and Origin Energy of Australia.
Abe said the new board and management of IPBC were determined to put PNG back on the road to national development.
“The board and senior management came to Lae to show the community that we are not just sitting at our desks in Port Moresby wasting time and money,” he said.
“We are getting out and getting the job done.
“IPBC is responsible for these critical projects, and we are taking our job very seriously.”
IPBC board members visited the two projects and also met community and business leaders to report on progress on the projects and to outline the huge impact they would have on the regional and national economies.
IPBC directors and management inspected the Yonki ‘Toe Of Dam’ project on their visit From left are Akio Katayama (project manager, Nippon Koei), Lawrence Solomon (director, strategic planning and marketing, PPL), Parkop Kurua (senior portfolio manager, IPBC), Dr Thomas Webster (chairman, IPBC), Tony Koiri (CEO, PPL), Anthony Yauieb (alternate director, IPBC), Peter Aitsi (director, IPBC), PPL engineer.

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