PAPUA New Guinea yesterday signed a historic memorandum of understanding (MoU) for a feasibility study to pipe water resources into Australia from Southern Highlands, The National reports.
The project is valued at A$30 billion (K72 billion).
The feasibility study alone is expected to cost A$20 million (K480 million).
The feasibility project was approved by the National Executive Council in 2008.
The MoU for the feasibility study was signed between the Cairns-based project developer Might and Power Australia Pty Ltd chairman Fred Ariel, Department of Environment and Conservation chief legal adviser Ben Pasigan on behalf of the state and Imbonggu MP Francis Awesa on behalf of Southern Highlands government.
Awesa said: “It’s a historic occasion for the project with a billion kina magnitude.
“It’s indeed the single biggest sustainable and economically viable project involving clean energy, especially water resources in the province and PNG as a whole, apart from oil, gas and other mineral and non-mineral projects.
“Oil and the so-called LNG will deplete in the next 30 years, but water will continue to sustain both
The opposition stalwart said he had discussed with the Australian federal government and the opposition as well as the
“They are very supportive and that makes this project significant,” Awesa said.
Ariel told the respective stakeholders and reporters that the plan to pipe water into