PNG Coconut Industry To Get New 23-Storey Headquarters In Port Moresby

Artistic expression of Kokonas  Tower/Supplied

A new 23-storey headquarters for Kokonas Indastri Koporesen (KIK) is planned for downtown Port Moresby after the project received a Certificate of Compliance from the Public Private Partnership (PPP) Centre.

The multi-million-kina development will be delivered under a build-operate-transfer arrangement, with the private developer financing and constructing the tower before operating it for 15 years and eventually handing ownership back to KIK.

KIK managing director Alan Aku said the organisation had spent years trying to secure funding for a permanent headquarters through conventional government channels.

He said repeated public investment programme submissions and funding requests had failed to deliver the required financing, prompting KIK to pursue an alternative model through private-sector participation.

The PPP process, which began almost two years ago, involved a selection process designed around transparency, governance and commercial viability, Mr Aku said.

He said the Certificate of Compliance provided confirmation that the proposed development met the requirements of the PPP Centre.

The Coconut Tower will provide KIK with a permanent base for its operations and is expected to support programmes targeting the wider coconut industry.

Mr Aku said the commercial development would also create an income-generating asset for the organisation, allowing future revenue to be directed back into industry programmes.

This includes support for coconut growers and efforts to expand downstream processing and create greater value from the country's coconut resources.

“For years, KIK’s vision for a dedicated headquarters faced severe bottlenecks,” Mr Aku said.

“Refusing to let budgetary constraints stall progress, KIK leadership pivoted toward innovative financing, aligning with the national government’s push for private-sector collaboration through the PPP framework.”

He said the project represented more than an office complex for KIK.

“The project, therefore, represents not only a new headquarters for KIK, but a strategic investment in the continued growth and sustainability of the coconut industry,” Mr Aku said.