IPBC Managing Director welcomes Lae Port and Ramu projects

Welcome speech by
Mr Thomas Abe
Managing Director
Independent Public Business Corporation

at the groundbreaking ceremony for
the Lae Port Tidal Basin Project
Lae, Morobe Province

June 18 2012

Right Honorable Mekere Morauta, Minister for Public Enterprises,

Honorable Don Polye, Treasurer,

Honorable Bart Philemon, Minister for the Public Service,

Honorable Sam Basil, Minister for National Planning and Monitoring,

Honorable Luther Wenge, Governor of Morobe Province,

His Excellency Mr Qui Bohua, Ambassador of the People’s Republic of China,

His Excellency Mr Whie-Jin Lee, Ambassador of the Republic of Korea,

Mr Marcelo Minc, Country Director, Asian Development Bank,

Vice President of China Harbor Engineering Company. Mr Zhao Yuqi

Project ConsultancyTeam Leader from Korean Engineering Consultant Corporation, Mr Yoon Joon

Departmental heads, Chairmen and CEOs of Statutory Bodies and SOEs,

Landowner representatives, distinguished guests, ladies and gentlemen,

Thank you for coming and welcome to this ground-breaking ceremony for the Lae Tidal Basin Port Development
project.

It is a very important moment for all Lae people – landowners, other residents and business houses.

It is also an important moment for other parts of the Momase-Highlands region, as the Minister for Public
Enterprises will explain later.

For IPBC, it is a matter of some pride that we are able to welcome you this morning.

The Lae Port Tidal Basin Project has had a long gestation, and today is the culmination of a lot of hard work over
the past three years by a wide variety of people from a multitude of backgrounds coming together for a common
purpose.

IPBC, as the representative of the State, has been the organisation charged with pulling this project together, and I
thank each and every one of you for your assistance and cooperation.

IPBC has two major projects under its oversight for the Momase and Highlands regions; the first is this project,
which is worth close to K800 million.

The other is the Yonki power-station three-phase project involving maintenance and upgrade of Ramu 1 – to be
completed this year; a mini power station at Yonki Dam – called Toe of Dam – to be completed next year, and a
very large power station called Ramu 2.

IPBC and its partners have begun work on a large feasibility study of Ramu 2 to be undertaken soon. The first two
phases will end the power problems in Lae.

But the third phase is a huge K2 billion 180-240 MW power station that will transform the economy of this region of
PNG.

This current project starts with our overseas partners:

  •  The Asian Development Bank, which has funded 70 percent of the project (30% by PNG government).
  •  China Harbor Engineering Company, our construction contractors that was awarded the tender.
  •  Korean Engineering Consultant Corporation, our consultant engineers that will work with IPBC and PNG

Ports technical team
Then there are our domestic partners, the Morobe Provincial Government and the Lae landowners, on whose land
we are holding this ceremony.

Of course I would also like to thank National Executive Council, and especially our Minister, who shepherded the
submission through to get the final project approvals in what must be record time, and PNG Ports Corporation,
which has had a large input and will ultimately manage the completed port.

And last but not least I would like to thank my staff for their contribution over a long period of time.

Welcome, and thank you all for your support of Papua New Guinea and the future of the City of Lae.

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