The Minister for International Trade and Investment, Hon. Richard Maru, after his visit to Finschhafen in Morobe Province today says he is impressed with the proposed Finschhafen Integrated Special Economic Zone (SEZ).
Minister Maru visited the proposed hydro sites and the locations for the proposed limestone mining project and cement production, and the deep-sea port in Finschhafen.
Minister Maru said: “Finschhafen is blessed with God-given endowments in terms of their rivers for electricity generation, lime for limestone mining to produce cement to supply the needs of our country, and their location on the sea where they can build deep-sea port and export to the world. Our country needs cheap power and limestone for cement production. Finschhafen have the resources. They have the raw potential so the Government must support them to unlock that potential.”
Minister Maru emphasized on the importance of hydro and said: “Electricy is a big problem in the country. Counties like Indonesia are attracting more investments because they have cheap power (4 US cents per megawatt hour). We cannot compete with the rest of the world because the cost of our electricity is too high and unreliable. We need hydro. It is the mechanism to attract investment. Finschhafen have a lot of rivers. One day they will supply power to the nation and will be an asset to Papua New Guinea (PNG).”
Minister Maru thanked the local MP and Minister for Mining, Hon. Rainbo Paita and his Finschhafen District Development Authority (DDA) for their initiative and vision to transform their district by using the proposed SEZ.
“For six year they have been working towards this project. Unlike other districts and provinces, Finschhafen DDA has been the first to bring in world-class companies and experts to carry out investigation, feasibility studies and master plan for their proposed SEZ and align it with their 5-year District Development Plan and with our country’s agenda to replace imports and grow our economy,” said Minister Maru.
After visiting and appreciating the sites, Minister Maru will now be taking a Submission to the NEC next week for concept approval of the proposed SEZ.
“Finschhafen DDA has invested K6 million over the last 6 years to develop the proposed SEZ. The country needs this project. This project will replace imports, create jobs and will transform Finschhafen into a major industrial hub for PNG in the future,” said Minister Maru.
Meanwhile, the officers from the Department of Lands and Physical Planning are on the site for the proposed deep-sea port at Busega to complete the Land Investigation Report.
Minister Maru was very impressed with the support of the local people and their excitement to have work started on their proposed SEZ.
“The landowners, the Finschhafen DDA and the people of Finschhafen are keen for this project to take off after waiting for six years. I will make sure the SEZ License is granted this year for the proposed SEZ,” said Minister Maru.
