PNG Secures $195 Million Chinese Loan For Seafood Trade Park

admin's picture

Pacific Marine Industrial Zone to be constructed in Madang

PORT MORESBY, Papua New Guinea (PNG Post-Courier, April 27, 2015) – The China Export Import (Exim) Bank and the Government have made available a total of $US195 million to establish a marine park within 12 months.

This announcement was made last Friday by Minister for Trade, Commerce and Industry Richard Maru, after receiving the phase one detailed designs of the marine park from China Shenyang International Economic and Technical Cooperation Limited, the company that is building the Pacific Marine Industrial Zone (PMIZ) project in Madang.

Mr Maru said the funding would provide land for 10 locators to be located within the PMIZ, where 10 fish processing plants would be established, along with an international wharf, a big jetty, and main sewerage treatment plants to capture all the discharges.

"Since the designs have been provided, I will invite all the regulatory offices like PNG Ports Corporation, to review the wharf design, PNG Water to review the sewerage design and other regulators to review their designs to international standards, to meet all the requirements for the environment and safety standards," Mr Maru said.

"The Government will be let known whether the designs are of international standards. It will also need endorsements and approvals from all key stakeholders, and finally to the NEC to give the clearance for the construction to start at the end of next month."

Mr Maru said the PMIZ would be located in Madang, and will create 20,000 direct jobs and another 10,000 indirect jobs.

He said the 10 fish processing plants will allow Papua New Guinea for the first time, enough processing capacity within the country to process all the fish, rather than sending them off-shore.

"As the project starts, I will take a submission to the cabinet to invite all current licensed companies that are fishing in PNG waters to take up space and be located in the park when it is completed, and those do not want to comply should not be allowed or licensed in the country," he said.

"After the completion of the marine park, companies who should be licensed in the future are only companies that can fish and process all their catch within canneries in PNG," he said.

He said PNG should not import fresh fish anymore.

Rate this article: 
No votes yet

Add new comment