PNG PROVINCE SECURES DEAL WITH SOUTH KOREA

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Gulf province looks to develop natural resources

By Clifford Faiparik

PORT MORESBY, Papua New Guinea (The National, June 25, 2008) – The Gulf provincial government in PNG and a top South Korean industrial city official signed an agreement in Port Moresby yesterday to develop the province’s vast untapped natural resources.

[PIR editor’s note: Papua New Guinea’s Gulf Province, which borders the Gulf of Papua, is located to the north and west of Central Province, where the capitol Port Moresby is located.]

And the Ulsan City Chamber of Commerce and Industry (UCCI) chairman Doo Chul Lee and his 11 visiting member team said they are committed to seeing the province become one of the leading technologically developed provinces in the country.

Gulf Governor Havilo Kavo, when signing an agreement of cooperation between the Ulsan Chamber of Commerce and Industry and the Gulf province at the National Parliament in the presence of Kerema and Kikori MPs Pitom Bombom and Minister Mark Mapakai, said that Ulsan metropolitan city was the industrial centre of South Korea while his province was the exact oppostie.

"But what we do have is an abundance of natural resources and this in my view is complementary to what you (Ulsan) are able to offer to us, your technological know-how."

Mr Kavo said the National Government is supporting his provincial government’s proposal to develop agriculture and downstream processing of natural gas and this agreement will ensure that Ulsan’s city technology and expertise will be readily available for his province to tap into.

"We have major impact economical projects to develop like an industrial and petroleum park and Vailala oil palm."

UCCI chairman Mr Lee said his city exports US$65 billion (K183 billion) worth of technologies annually and the and is looking forward to imparting his city’s technology and skills to develop the Gulf province and the nation as a whole.

"It will take four months for our Government and the Gulf provincial governments to complete negotiations to identify what developments are needed."

"While negotiations are going on, a technical team will come to the province to do studies," Mr Lee said.

Meanwhile, Kikori MP and Labour Minister Mark Mapakai said they have identified about K200 million worth of projects under the Kutubu Memorandum Agreement (KMA) to be submitted to the National Executive Council for approval.

"We will submit these projects as Kikori is a beneficiary of KMA as the gas pipe line will run through Kikori from the Southern Highlands rovince to the coastal processing facilities for down stream processing."

The National: www.thenational.com.pg/

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