Contract signed for K12m Buin international market

Governor General Sir Bob Dadae on behalf of the state signing the with KPT Engineering Ltd (Image: Supplied)

The much-anticipated development of the Buin International Market in South Bougainville is now officially underway.

This is after the signing of a K12.8 million construction contract between the Government of Papua New Guinea and KPT Engineering Ltd.

The signing ceremony took place at Government House today, with Governor General Grand Chief Sir Bob Bofeng Dadae formally executing the contract on behalf of the State.

Secretary for the Department of Works and Highways, Gibson Holemba, signed the agreement on behalf of the government, while Charles Sim represented KPT Engineering Ltd.

Company representatives Charles Jachwa and Acezel Lauc also signed the contract, witnessed by the Governor General, Secretary Holemba, and a delegation from the South Bougainville District Development Authority [DDA].

Governor General Sir Bob Dadae with the South Bougainville DDA and DoWH Secretary, Gibson Holemba, after the contract signing at Government House (Image: Supplied)

The K12,803,911.99 contract, inclusive of GST, was approved by the National Executive Council and is fully funded by the South Bougainville DDA. Construction is expected to be completed within two years.

Speaking at the ceremony, Secretary Holemba praised South Bougainville MP and Minister for ICT, Timothy Masiu, for his leadership in driving the project forward.

“This market is a strategic investment under the Medium-Term Development Plan IV. It will not only boost local commerce but also enhance trade links with neighbouring Solomon Islands,” Mr. Holemba said.

The Buin International Market is expected to become a key economic hub for South Bougainville, complementing ongoing infrastructure developments in the region.