Minister for State Enterprises, Hon Sasindran Muthuvel announced today that the Government has signed a history making agreement with Fortescue Metals Group, Australia. “After extensive investigations of Papua New Guinea’s rivers and water resources, Fortescue has determined that there is great potential to generate sustainable energy for a series of environmentally friendly industries. This is more than just a hydroelectric power scheme.”
“This is enabling our country to become partners in the development of carbon neutral industries that provide lots of employment, lots of investment opportunities and growth across the country, in industries that are normally built in countries like Australia and China. PNG will finally participate in these world-class industries generating significant revenues for our country.” The minister stated.
“Hydroelectric power technology is nothing new to PNG using our water resources to generate power since the late 1950’s. An important milestone has been achieved with the signing of this historic agreement between the State and Fortescue.”
The Minister indicated that the Fortescue technical team had flown over several potential hydroelectric sites and were excited at the prospect of developing these projects. There is the potential to generate in excess of 25 gigawatts or more to support green industrial operations for domestic consumption and export to international markets. This could include environmentally sustainable production of steel and copper and chemical industries such as fertilizer plants or ammonia plants.
Minister Muthuvel confirmed the Fortescue delegation was in Papua New Guinea from 24 to 31 August and held discussions with Prime Minister Marape, Governors, Ministers and other stakeholder representatives. Their visit has been planned for several months and adhered to strict COVID-19 restrictions, with full oversight and approvals from the National Pandemic Response Controller.
Feature Pic: PM Marape with Australian Mining magnate Andrew “Twiggy” Forrest witnessed by PNG Govt & Fortescue officials. Credit: PM Marape Official Facebook Page