New Ireland Development Corporation (NIDC) has forged a partnership with PNGFJ Enterprise, marking a milestone in the province's economic development.
This strategic alliance unlocks direct access to lucrative Chinese markets for New Ireland's abundant marine bounty, including crabs, prawns, and crayfish.
The Joint Venture Agreement, signed amidst the buzz of the Provincial Executive Meeting on Tuesday, March 12th, 2024 in Kavieng, signals a bold move into the fishing industry.
NIDC Chairman, Mr. Chris Tarkap, hailed the agreement as a game-changer for local fishermen, particularly islanders reliant on marine resources for their livelihoods.
The project, structured across three phases, encompasses fish and seafood exportation, revitalization of the Fisheries Wharf, and the establishment of a seafood restaurant and transit house.
Notably, the refurbished facility will boast state-of-the-art freezers, ensuring the freshness of seafood destined for international markets.
Under the terms of the agreement, NIDC leases the primary Fisheries Wharf to the Joint Venture Company (JVC) at a monthly rate of K7500 during the renovation phase.
This initiative not only promises economic dividends but also underscores New Ireland's commitment to sustainable development and community empowerment.