The Ihu Special Economic Zone (ISEZ) project in Kikori, Gulf, Papua New Guinea, will get a grant of K80 million from China.
Last week in Port Moresby, Chinese Ambassador Zeng Fanhua signed an economic and technical cooperation agreement with acting Prime Minister and Kikori MP Soroi Eoe. Prime Minister James Marape, according to Eoe, chose to provide the grant to the project.
Eoe expressed gratitude to China for the donation and stated that the two nations' diplomatic and bilateral ties had remained strong.
He claimed that his region contained roughly 80% of all found oil and gas.
“Kikori is the host of many projects, but there has been no infrastructure,” Eoe said.
“This is one area that the Government has recognised.
“If we are to harvest resources in Kikori, we need to prepare the people for projects that are coming.”
He claimed that the ISEZ will create 12,000 employment, boosting the economy and improving people's lives.
The award was announced during Eoe's visit to China as Foreign Affairs and Trade Minister in June, according to Ambassador Zeng.
“The agreement signed today is the latest fruits of our bilateral relations and reaffirm China’s commitment to developing a comprehensive strategic partnership with PNG and supporting Papua New Guinea’s economic and social development in a challenging time,” he said.
“I believe that with our joint efforts, our bilateral relations and cooperation will bring more tangible benefits both to the Chinese and the PNG people.”
Reference: Pacific Mining Watch (27 September 2021). “China funding PNG's Ihu Economic Zone Project in Gulf Province”.
