Wafi-Golpu Project To Lift Economic Growth, Says O’Neill


ECONOMIC GROWTH DOES NOT MEAN BETTER LIVES FOR ORDINARY
PEOPLE

Benny Geteng | Post Courier | October 16,
2018

The Wafi-Golpu project in Morobe province and Papua LNG in Gulf
province will help PNG experience a 3 per cent economic growth when
productions begin, said Prime Minister Peter O’Neill.

Mr O’Neill said the two projects, when they start producing
will boost the economy of the country at a sustainable
rate.

“PNG will experience a medium growth of 3 percent. 3 percent
is a sustainable growth for a country.

“The Wafi – Golpu mine will be the basis to deliver
infrastructure to the province,” he said.

Mr O’Neill said with the Papua LNG Project there is good
progress to deliver the project and the negotiation team is at
fiscal terms of project signing and closing to pass
concessions.

He said the economy is looking bright at a good economic
projection of 2- 3 per cent growth.

He also said there will be no fly in fly out for employees of
Wafi -Golpu.

Mr O’Neill made this statement last week during the swearing
in of the Lae City Authority interim board following a recent
strong stance by Morobean parliamentarians who have made it clear
they do not want the practice of fly in fly out in the Wafi –
Goplu project.

Mr O’Neill said the country will not repeat the same mistakes
of the billion dollar LNG Project deal in Hela Province to the new
projects and the leaders have now learnt from their
mistakes.

“We built an international airport in Hela and that airport is
only used once every month,” he said.

He said these are some instances of missed opportunities that
the Government will try to avoid in the upcoming mining projects of
the country.

The Prime Minister said the new Wafi – Golpu mine is a
bankable project for the country to embrace.

The construction phase of the Wafi – Golpu is valued at K5
billion and is set to be one of the biggest revenue earners for
Morobe province when gold production starts.

Source: FS – Mining B.
Wafi-Golpu Project To Lift Economic Growth, Says O’Neill



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