Friday September 4, 2015 – IPBC has appointed engineering and project management firm Kramer Ausenco to redevelop the area along the foreshore between Paga Hill and the Navy Base in to a world-class facility.
The redevelopment will include a signature building comprising of high-end hotel accommodation, residential apartments and commercial offices. The building will be inspirational and a focal point for tourism and support future events such as the APEC meeting in 2018.
The redevelopment will follow the relocation of port operations to the recently-acquired Motukea port facility.
Chairman of the IPBC Mr Paul Nerau said that such a world-class facility is essential to Papua New Guinea.
“The development and signature building will be iconic. We are already calling it the Lakatoi City project. The first step was the relocation of the existing port to Motukea. Once this process is complete, we expect work will commence on redeveloping the site.”
“This is an exciting time in the history of Port Moresby. The city and CBD will finally be free of port-related traffic and port operations which have become something of an eye-sore and a hindrance to the beautification and functionality of our city. The city has already undergone transformation in the last decade and this latest development will project us well into the future as a tourist destination and a modern, vibrant city,” he added.
The awarding of the contract to Kramer Ausenco follows a public tender process that was advertised within Papua New Guinea and the region.
Kramer Ausenco has a long and highly successful involvement in Papua New Guinea and Port Moresby, being the largest locally established engineering and project management firm in PNG and the Southern Pacific region. The company is experienced in managing environmental aspects and logistics; and has actively delivered a number of successful projects in Port Moresby including the new Steamships Harbour Commercial Buildings; Windward East Apartments and the Grand Papua Hotel.
Managing Director of IPBC Mr Garry Hersey said that the next step is for the IPBC to formalise the engagement of Kramer Ausenco to undertake master planning and further develop concepts for the main wharf area, including the iconic signature building. Requests for expressions of interest in regard to transaction and legal advice will follow shortly thereafter, which will see the IPBC partnering with the private sector in the development of this landmark project.
“The planning and concept stage will include a detailed project and financial analysis to support the proposed usage for the signature building. This will identify the best public, commercial and/or residential mix. The precinct master plan will encompass initial engineering studies; traffic, power, water and sewerage requirements and a preliminary commercial feasibility analysis will also be conducted. The master plan will include a proposed timeline showing key milestones for project implementation and we are proceeding on the basis that the site will be ready for APEC,” he said.
The master planning and concept development stage of the Lakatoi City project is expected to be complete by Kramer Ausenco within 70 days of commencement.
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