These organisations have decided to put their landowner benefits from Ok Tedi Mine to good use, by investing in townhouses at Edai Town, in Central Province.
The investment in three blocks of townhouses generates a regular income stream.
A cheque worth 5.5 million was successfully handed over to signatories Sir Moi Avei and Edai Town Director Robert Cheah.
Sir Moi, former Chairman of Ok Tedi Mining Ltd, wore his chairmanship hat for Boera Holdings Ltd today. He acknowledged the initiative taken by the landowners.
“We are known as the Hiri traders but we have not gone up the fly river in the way that you have come all the way down to invest in Edai Town. It is in that regard… Ok Tedi has set a new way for PNG and OTDF has to translate this into the villages by bringing in investors here,” Sir Moi said.
Ok Tedi Development Foundation (OTDF) programme services executive manager, Eric Kuman, shared how OTDF has invested about 7.3 million in real estate.