Special Economic Zone projects has raked in K1.2 billion

The development of Special Economic Zones [SEZ] throughout the country will be a priority for the Marape – Rosso Government.   

Prime Minister James Marape announced “that SEZ have already attracted K1.2 billion in Foreign Direct Investments [FDIs], through the K700 million Radisson Blu branded hotel on Paga Hill SEZ, and the K540 million Central Lime Project (CLP) Single-Factory SEZ at Kido in Central Province.

He commended International Trade and Investment Minister Richard Maru and the Special Economic Zone Authority [SEZA] for their diligent efforts in securing these investments.

SEZA is a flagship initiative by the Marape Government, designed to boost FDIs and enhance national investment in sectors critical for economic transformation such as downstream processing and import replacement.

“Last December, I extended a warm welcome to the renowned international hotelier, Radisson Hotel Group, as they announced their partnership with Paga Hill SEZ to develop a K700 million Radisson Blu branded hotel on Paga Hill in Port Moresby,” Mr Marape said.

“Earlier this month, Mayur Resources Ltd announced to the Australian Stock Exchange (ASX) that it has secured funding of US$155 million (K540 million) to complete the Central Lime Project... the project has the potential to create hundreds of new jobs, support service businesses, and enhance local infrastructure including electricity, roads, education, and health facilities for landowners. It promises to be a transformative development for Central Province landowners and the broader manufacturing sector."