PNG Government, Landowners Positioned as Shareholders in Cement Venture
PNG has formalised an equity-based partnership with Pacific Lime and Cement, ensuring national and provincial participation in the Kido industrial development.
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PNG Trade and Investment Minister Richard Maru |
PNG Trade and Investment Minister Richard Maru announced the agreement during PNG Investment Week in Sydney, signalling strong government backing for large-scale manufacturing investments.
PNG Cabinet is expected to consider the agreement shortly, clearing the way for formal signing and implementation.
The Project Development Agreement provides a commercial framework covering equity protection, reporting obligations and long-term fiscal stability for investors.
Under the deal, the PNG Government will secure a 13 per cent shareholding in the project’s lime and cement operations, with the option to expand its stake after production begins.
A portion of the State’s equity will be reserved for customary landowners and the Central Provincial Government, while landowners will also receive a direct two per cent free-carried interest.
Managing Director Paul Mulder said the development would support economic activity across multiple sectors, stating: “This project is designed to deliver long-term commercial returns while supporting PNG’s infrastructure growth.”
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