By DALCY LULUA
PAPUA New Guinea is on the verge of an unprecedented economy boom as there are three projects on the horizon that could turn PNG on its head, says PNG-Europe Business Council President Michael Sullivan.
“If the three projects go together and work out well, we will be somewhere in the vicinity of K40-50 billion pumped into the PNG economy,” Sullivan said.
“We have the re-opening of the Porgera Gold Mine set on the 16th September, 2023, and we have the Papua LNG Project that is operated by TOTAL Energies Company.
“Papua LNG is currently under its engineering and designing phase, and is expected to go into its first quarter of 2024.
“Then we have the Wafi-Golpu Gold Mine Project in Morobe Province with its first mining shift expected to commence as early as November 2023.
“If these three projects get off the ground at one time, the impact on PNG economy will be massive.
“In PNG, we all know that all things don’t work out well as planned and even if just two of those projects kick off, the impact will be enormous so the good times are coming again.”
“It will be an interesting time during this time that we will be having against this backdrop the 4th PNG European Business Exchange and Trade Conference.”
The 4th European Business Council Conference is set to be hosted on the 30th of October at the APEC Haus.
“This comes at a very interesting time in PNG’s economic history,” President Sullivan said.He said there will be a lot of interesting things at the conference for lots of peoples – investors, managers, and for government, for academics and for interested parties.
The conference will have something for everyone, as it will be a more tailored conference than the 2022 conference.
