News & Media
GG executes deed-of-novation agreement for shareholding in Central Dairy
This comes after the Governor General of Papua New Guinea, Sir Bob Dadae, executed on behalf of the State a deed-of-novation agreement transferring the Government’s equity component of K10 million (US$3 million) to KAL.
The agreement gives KAL full powers to administer the State’s benefits, claims, interests, liabilities, obligations and rights in the project.
Shareholders include Innovative Agro Industry (50%), the Central Provincial Government (30%) and KAL (20%).