October 22, 2018
Thursday 18th October, 2018 – Port Moresby: Kumul Agriculture Limited (KAL), a state-owned enterprise under Kumul Consolidated Holdings, now has 20% interest in the joint venture company Central Dairy Limited – local manufacturers of Ilimo Milk.
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%).
Related Articles
Markham District and Kumul Agriculture Partner to Establish Major Agro-Growth Hub
The Markham District Development Authority (DDA) has reached a significant milestone in its mission to revolutionize the agricultural landscape of Morobe Province.
Through the formal signing of a Memorandum of Understanding (MoU), the DDA has partnered with Kumul Agriculture Limited (KAL) to launch the Markham Agro Growth Centre Project.
Third Female Leadership Directors Program Launched
Kumul Consolidated Holdings (KCH) has reaffirmed its commitment to advancing gender diversity in corporate governance by officially launching its third training program for female company directors. Managing Director Professor David Kavanamur welcomed 31 participants to the program at an event in Port Moresby, marking the largest cohort to date.
Napa Napa Solar Power Project Officially Commissioned to Bolster Grid Stability
In a significant development for Papua New Guinea’s energy sector, the Napa Napa Solar Power Project was officially commissioned today in Port Moresby. The landmark facility was launched by the Minister for State-Owned Enterprises and Member for Mt. Hagen, Hon. William Duma, marking a major milestone in the Government’s Least Cost Generation program.
Follow Us