September 22, 2015
Kumul Consolidated Holdings and the PNG Defence Force yesterday signed a Memorandum of Understanding (MoU) to work together in the relocation of the HMPNGS Basilisk maritime base currently located on the foreshore of Port Moresby.
The move will prepare the way for the redevelopment of the foreshore of Port Moresby.
The MoU signing took place at PNG Defence Force at Murray Barracks where the project teams from both parties and invited members of the media met to witness the signing.
Mr Garry Hersey, Managing Director of Kumul Consolidated Holdings said:
“This MoU follows the acquisition of Motukea by PNG Ports. It is an essential part of the redevelopment of the waterfront of Port Moresby and is part of a project that we are working on that will showcase Port Moresby and Papua New Guinea to the rest of the world.
The relocation of the PNG defence Force to another site will allow the consolidation of several Defence Force sites and provide an essential berthing, refuelling, housing and administration complex away from the city.”
“This is a very exciting time for both Kumul Consolidated Holdings and PNG Defence Force. The purchase of the navy site by Kumul Consolidated Holdings will allow the Lakatoi City Project to be maximised along the foreshore. In time it will provide residents and visitors recreational areas, entertainment precincts, apartments, hotels, cafes and restaurants.”
Brigadier General Gilbert Toropo, Commander of the PNG Defence Force said:
“For the PNGDF this is a significant event as we focus on the development and restructuring of the PNGDF organisation. The relocation of Basilisk Maritime Base shows proper support of the Government of PNG and its people in maintaining its core obligations.”
“However we cannot move until a new location has been identified and properly established. This MoU is the initial phase of that process”
The MoU also includes a provision for both parties to work together in implementing a business case for the sale of the navy base and to relocate to a new site.
The Memorandum of Understanding was signed by Brigadier General Gilbert Toropo, Commander of the PNG Defence Force and Mr Garry Hersey, Managing Director of Kumul Consolidated Holdings and witnessed by Ms Carmel Tamiloeni, Deputy Secretary of the Department of Defence (on behalf of the Acting Secretary) and Mr Erastus Kamburi, Chief Legal Officer, Kumul Consolidated Holdings.
Kumul Consolidated Holdings, in collaboration with PNG Power Ltd (PPL), is seeking Expressions of Interest (EoI) from owners of suitable alienated land to enter into a lease agreement with a future independent power producer under which the land will be used for the installation and operation of a solar farm.
Acting Managing Director of Kumul Consolidated Holdings (KCH) David Kavanamur, presented Chief Executive Officer of Nasfund, Ian Tarutia and his Investment Team with the Information Memorandum for the partial privatisation of Telikom Limited.
Kumul Consolidated Holdings (KCH) Chairman Peter Aitsi and Chair of the KCH Audit & Risk Committee James Gore today announced that their Board had endorsed a Whistleblower Policy.