Thursday, April 12, 2012

PMIZ project set to roll in Madang

The engineering concept design for the US$95 million (K216 million) Pacific Marine Industrial Zone (PMIZ) in Vidar, Madang province, was yesterday (Wednesday) handed over to the national government by Korean engineering consultants, Deco, The National reports.

An artist’s impression of the PMIZ project

Minister for Commerce and Industry Charles Abel took delivery of the design and also paid K10 million to project consultants, China Shenyang International Economics & Technical Cooperation Corporation (CSYIC), as the first tranche of the PNG government’s counterpart funding.

Abel (right) receives the engineering concept design for the PMIZ project from KPT Group of Companies managing director Jason Lee, who is associated with Korean engineering consultants Deco.-Picture by MALUM NALU

Abel said since taking office last year, the government recognised the economic importance of the project as a strategic economic corridor infrastructure project” that would stimulate increased economic growth”, particularly in the northern region.
“When the O’Neill-Namah government took office, we quickly realised the strategic, economic and national interest that a project of this magnitude and scale would bring for PNG,” he said.
“As minister responsible for the project, I ensured I was not going to let this important opportunity for international business slip by without giving it the full support it deserved, bearing in mind the net gains the PMIZ would reap for PNG and her people.
“I made sure it got off the ground quickly, as an enabling infrastructure necessary for the government to realise the much talked about economic corridor concept.”
Abel, when giving K10 million to CSYIC deputy general manager Terry Wang, said it was the first tranche of the PNG government’s counterpart funding.
This is on top of the K1 million government gave to project landowners last October to prepare them for participating in the development and construction phase of the PMIZ.
“This is a demonstration of the firm commitment by government to ensure the PMIZ project gets off the ground quickly,” Abel said.
“This US$95 million PMIZ project is indeed a major resource impact project.
“The PNG National Fisheries Authority and my department have fully appraised the project.
“Both direct and indirect economic returns are enormous in the long run.
“The PMIZ project will have a massive pull-in effect of foreign fisheries industry participants that settle on our shores to do business in this strategic resource sector.
“It will no doubt become a catalyst for change for many of our coastal fishing provinces.”
Abel said the winning concept design was chosen following three submissions by engineering consultants, Deco, which had on March 13 this year presented to the government three concept designs for final selection.
Yesterday’s unveiling of the engineering concept design of the MPIZ project puts in motion the construction phase of the project.
Abel thanked all key stakeholders of the PMIZ project for bringing into reality a pilot concept design “that looks set to graduate PNG’s fisheries industry infrastructure to world-class attention and standards as PNG strives to be on par with the best industry participants in the world”.

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