Major investment transforms PNG’S major ports
Port Moresby’s current port, due to be relocated by the end of 2018 After years of congestion and under-investment, and domestic trade. In 2015, it handled some 130,000 international and 56,000 domestic containers. PNG Ports’ Chief Executive Officer Stan
year period, with the first development commencing in 2016.’
When fully operational, Government estimates suggest the port will create new jobs and related opportunities for more than 5000 people—with projections of this reaching 10,000 as port business increases in coming years. Increasing pilotage, wharfage and berthage revenue streams are also expected.
An 18-month project to relocate the port of Port Moresby to nearby Motukea Island has moved a step closer with the Bank South Pacific approving a K300 million loan to reclaim about 60 hectares of underwater lease and on top of that build about 500 metres of quay line (wharf extension) and mounted tracks at the storage facilities.
Relocating the port and its operations is designed to relieve congestion in the central business district of Port Moresby (‘Town’), which has reached operational capacity and has been hamstrung by traffic congestion and growth issues.
The port relocation is due for completion by 2018 to coincide with the November 2018 APEC meeting.
PNG Ports Corporation and Curtain Bros, which has owned and operated the Motukea Port since 2010, signed a sale agreement in 2014 for K725 million, but Curtain Bros will also expand its own ship repair facilities by building a very large dry dock, which will accommodate vessels of up to 100,000 DWT capacity, according to General Manager, Justin Mcgann.
‘We’ll have our dry dock for Panamax repairs, and we’ll have our shipyard where we want to build new ships,’ he said.