Steamships was proud to break ground on Portside Business Park, its new large scale mixed-use development which is managed by its property division, Pacific Palms Property. The ceremony was attended by the Deputy Prime Minister and Minister for Lands Hon. John Rosso MP and Hon. Dadi Toka Jnr, NCD Deputy Governor and Chairman of the Motu Koita Assembly along with key managers from Steamships and Pacific Palms Properties.
Spanning a site area of approximately 38 hectares, Portside Business Park is strategically located adjacent to the Motukea International Terminal and on the energy corridor to the LNG Plant. This mixed-use business park development offers an end-to-end logistics solution with warehouses, hardstand yards, offices, retail outlets and a residential compound. In due course, additional facilities will be added, including a hotel.
Mr. Chris Daniells, Steamships Managing Director, added that “Portside Business Park represents Steamships ongoing commitment to developing Papua New Guinea, and when fully developed, Portside will represent an investment of circa. PGK1bn and help create over 1,000 new jobs. Today’s groundbreaking supports the National Government MTPD4 agenda to drive growth and to broaden the economy in the non-extractive sector and Portside provides the perfect location next to the port for any company looking to enter downstream processing or manufacturing. Steamships has a number of other projects in the pipeline, and I look forward to groundbreaking ceremonies on those soon. At Steamships, we take a long-term view, PNG is our home.
General Manager of Corporate Affairs Mr. Vele Rupa comments “Steamships is delighted to be bringing another Grade A development to Port Moresby. It has taken considerable time to navigate the bureaucracy to get this project off the ground, but customers can be confident that they are coming to a development with bona fide title that will be developed to best in class international standards,” he further added, “Economic growth can only work when the National Government allows private sector to make investment decisions by having a right policy and investment landscape.”
Pacific Palms Property will develop Portside in phases, with today’s groundbreaking kicking off the major infrastructure works. The residential compound is already complete, as are the perimeter works.
In his keynote speech, Deputy Prime Minister and Minister for Lands, Hon. John Rosso commended the Company’s investment “The Marape-Rosso Government welcomes and commends Steamships Trading Company for their continued confidence in our nation through their latest significant investment in the new Portside Business Park. This development will not only enhance the commercial landscape of Port Moresby but also create much-needed jobs, stimulate local industries, and drive economic growth. Strategic investments like these are essential as we strive to build a more resilient and diversified economy. We look forward to seeing the positive impact this partnership will bring to our people and the future of Papua New Guinea.”
