Wafi-Golpu Joint Venture signs MOA with PNG Ports

PNG Ports Corporation Limited (PNG Ports) has entered into a Memorandum of Agreement (MOA) with the Wafi-Golpu Joint Venture (WGJV), in relation to a potential site at Lae for a land/water interface to dewater and stockpile concentrate from its proposed Wafi-Golpu project in Morobe Province for easy shipment to overseas markets.

In a MOA signed last week during the PNG Mining & Petroleum Conference, PNG Ports granted WGJV the exclusive right to deal with PNG Ports in relation to the potential site, and to access the site to conduct further studies regarding the site’s suitability as a port facility.

“PNG Ports recognises the importance of the Wafi-Golpu project in the context of PNG’s economic growth and acknowledges that the provision of land and water interface is a critical component of the Wafi-Golpu Project value chain,” said PNG Ports Managing Director, Stanley Alphonse.

“PNG Ports is happy to provide this critical component in the construction and operations of the Wafi-Golpu project going forward.  Such arrangements will go toward supporting PNG Ports’ strategy of developing the K300 million Huon Industrial Park in Lae,” he said.

PNG Ports has invested over K300 million into the 400ha Industrial Park located at the western end of Portion 508.

Expected to be completed by the end of 2018, the Industrial Park addresses some of the key impediments to economic growth and places Lae, the nation’s industrial hub, in a strong position for future growth.

The Industrial Park intends to service both dry and wet bulk trade and will comprise of warehouses suitable for heavy and light industries, commercial and small warehousing, hardstand for container and equipment storage, fuel, oil and gas tank farms, power generation, sewerage and effluent treatment.

There are also long term plans to build accommodation, recreation areas, firefighting and chemical containment facilities, hospital/clinic, church, counselling, and security and police facilities to service industry located with the Industrial Park.