By RAKSY HERON HEGGINTO
The ceremony also coincided with the official launch of Hides 4 Landowners Umbrella Association Inc. (H4LUA) and the Special Purpose Vehicle (SPV) for Kroton Laitepo Equities Limited – H4LUA company.
The Para village was filled to capacity by the guests and villagers to witness the launching ceremonies.
Representatives from all various business operators and developer ExxonMobil (PNG), Church leaders and landowner leaders from the province also attended the ceremonies.
Also, representatives from the responsible government organizations such as Kumul Petroleum Holdings Limited, Depart of Petroleum and Energy and Mineral Resource Development Company (MRDC) were present to witness the occasion.
They were welcome and escorted by the colorful local singsing groups from the area.
The impact projects were the development initiatives of the management of Kroton Laitepo Equities Limited (KLEL) to develop impact infrastructures and social development projects in Hides 4 area. KLEL is the H4LUA Landowners company.
The impact projects are; Hides 4 Water Project, Hides 4 Power Project, Andira Hospital and road projects as; C1 to Pati -Kabote Roads, Wellpad A to Tiputipu – Helitangi Road, HGCP Ring Road and Yarima to Tombete Road.
At the launching, the board members of KLEL made an inaugural dummy cheque of K2.27 million to all churches in Hides 4 from the K22.7 million dividend paid by Kumul Petroleum Holdings Limited.
This money was given as 10% tithe to churches as agreed and written in the Hides 4 License based benefit Sharing (LBBS) agreement in 2009.
The money will be managed by the KLEL for longtime benefit for the churches in Hides 4 PDL 7.
The inaugural cheque presentation by the KLEL as Kroton Laitepo Equities dividend payment was welcomed by many at the launching.
Most of the impact projects in the Hides 4 was delayed since 2017 to 2021 due to none payment of dividend and other source of funding.
Meanwhile, Kumul Petroleum Holding Limited made the payment of K22.7 million to landowner company KLEL for Hides 4 PDL 7 landowners.
Therefore, the Hides 4 Umbrella Association Inc. is taking up the initiative to deliver these vital impact infrastructure projects in Hides 4 PDL 7 areas for the people.
