Ramu 2 Hydro Project

The State and Ramu 2 Hydro Developer, Shenzen Company Limited, are finalizing discussions with the launching expected in November.

Under the agreement the State along with the Provinces of Eastern Highlands and Morobe, and Landowners will own 30% while Shenzen Energy has a 70% stake.

Minister for State Owned Enterprises, William Duma, says discussions with landowners and the Province have already commenced and they are awaiting the commercial agreement to be finalized.

PNG Power Board Chairman, Andrew Ogil, says negotiations are ongoing despite the election period.

He said the Project was the biggest hydro power undertaking and so it was imperative for PNG’s interests, as well as the developers, were properly covered in any agreement.

“So what we are doing is that there is a team in PPL working on that, with KCH as a shareholder, plus the contractor. By the time it comes to the Board, I will then endorse it to the board and PPL, and to the NEC. By that time we’ll be in a position to sign off.