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Prime Minister Hon. James Marape has welcomed the news by Steamships Trading Company to diversify further through a partnership with his government in the downstream sector.
He made this known after meeting the company's Managing-Director Rupert Bray and General Manager Corporate Affairs Vele Rupa in Port Moresby this week.
The Port Moresby meeting is a follow-up of the earlier meeting in September when the Prime Minister met with John Swire & Sons, the shareholders of Steamships, in London after attending Queen Elizabeth's funeral.
The briefing to the Prime Minister by Steamships this week revealed an investment by the company worth almost K1.5 billion over the recent past.
Managing-Director Mr. Bray also informed the Prime Minister of the company's plans to open the first Marriot properties in the country in 2023 as it continues to work to deliver the Harbourside South Project.
Mr Bray said Steamships was now looking forward to working with the Department of Prime Minister to deliver the first purpose build business and manufacturing park in Portside, Motukea in the first quarter of 2023.
He said the company is anticipating to work with the Prime Minister’s Office, the Deputy Prime Minister and the Minister for International Trade & Investment to identify opportunities in the downstream processing and manufacturing.
Steamships has been operating in PNG continuously for 105 years with businesses in property, hotels and hospitality, ports, trucking, marine services and shipping.
Prime Minister Marape said of this: “It is heartening to hear Steamships is committed to developing Papua New Guinea.
"Projects such as Harbourside South, Motukea Industrial Park, Dobel in Mt Hagen, and expansions plan for Lae City are additions to what is already in place.
"I am very pleased to hear that Steamships, with its longevity in PNG, has immediately picked up on cue and partnering Government in the areas we want to expand and develop. That is what responsible corporate citizens do, and this company is Number 1, in so many ways.
“The Government stands ready to support Steamships as we look forward to seeing it expand further into the downstream sector.
"This is good timing for the company for a number of reasons.
"First is that, we have a positive outlook on the economy, which is expected to hit K200 billion by 2030.
"The next is that our Government has begun investing in enabling infrastructure to connect all regions of PNG which will also support investors. This is through our 'Connect PNG Programme', covering roads and bridges, wharves and jetties, airports and airstrips, power supply, and telecommunications.
"The Government is now working on unbundling the rest of the country through infrastructure development, agriculture, forestry, fisheries, and downstream processing.
"With Papua New Guinea’s close proximity to Southeast Asia, we are encouraging the setting up of Special Economic Zones focused on industry-led development.
“We are more than willing to work with companies that have stood the test of time with Papua New Guinea, companies like Steamships.
"I congratulate and commend them," PM Marape said.
Article courtesy of PM James Marape News Page
