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Gulf Provincial Government and Kumul Consolidated Holdings have signed two memorandum of understandings.
These are for the development of the Purari hydro project and the and Kumul Shipping Corporation.
The Purari hydro power project is a historical project which has finally taken off the shelves and will bring in revenue to Gulf province when project begins soon.
Minister for Public Enterprise and State Investments Sasindran Muthuvel said these MOUs demonstrate the Gulf provincial government’s trust in KCH to effectively liaise and work cooperatively with overseas investors for these two important projects.
The investors are Pasca LNG development by Twinza and the Purari hydro project which will both benefit the people and local-level government’s in the province.
“The Pasca development clearly demonstrates that Papua New Guinea is still a viable investment destination. KCH is endorsed as the state nominee to lead and manage Kumul shipping, which will provide marine services and product transport for the Twinza LNG development,” he said.