NAMATANAI district in New Ireland Province has launched a massive balsa project that will see spin-off business benefits to the local economy, province, and the country as a whole.
The districts business arm, Namatanai Advancement Limited (NAL) and Kokopo based Balsa company 3A Composites PNG Limited recently signed a land lease agreement to develop balsa on Mageh plantation land outside Namatanai town.
Speaking during the official launch of the balsa project, Agriculture Minister Aiye Tambua commended the local MP and Minister for Transport and Civil Aviation Walter Schnaubelt for initiating such a big project.
This project is the first of its kind in Papua New Guinea and the economic impact will be far greater.
“It will benefit the district, province and the country as a whole and I salute my colleague MP for your foresight in bringing the right investment for our people, Tambua said.
He said the Marape-Rosso government stands ready to support the project to benefit the local people in terms of employment and other economic spin-offs.
Namatanai MP Schnaubelt who witnessed the signing of the land lease contract welcomed the investor 3A Composites PNG Limited for the partnership to introduce balsa in the district.
The company will now set up nursery and do ground survey to plant 50 hectares per week on 400 hectares of land.
“This will open up employment opportunities for the local people and other spin-off benefits, he said.
Schnaubelt also thanked the landowners for their unwavering support to finally have the project off the ground despite minor hiccups along the way.
The General Manager of 3A Composites PNG Limited George Karoba said the agreement is historic and first of its kind in the balsa industry in PNG.
The significance of this event cannot be understated. We are sowing the seeds of transformation for the New Ireland Province of Papua New Guinea.
“A vast expanse of 400 hectares of land is set to become the canvas upon which we paint a picture of growth, progress, and community empowerment, Mr Karoba said.
He said 3A Composites PNG Ltd and Namatanai Advancement Limited have joined hands with a common purpose to cultivate balsa trees that will not only flourish within these lands but also nurture the aspirations of the local communities.
This agreement is not just a transaction; it’s a commitment to a shared future.
“The economic potential of this endeavor is vast, Mr Karoba reiterated.
