The Minister for Trade, Commerce and Industry Richard Maru revealed yesterday during the presentation of the “full commencement order” to the contractor, China Shenyang International Corporation (PNG) Limited to commence work on the project.
“National Executive Council on Monday approved transfer of PMIZ to Kumul Consolidated Holdings (KCH).”
The project was formally spearheaded by the Department of Trade, Commerce and Industry.
Maru said it was the right move as KHC has the expertise and resources to bring in more capital and develop the project.