Ok Tedi Mining Limited has commended the National Government for increasing the Tax Credit Scheme (TCS) ceiling from 0.75% to 2%, in the 2022 National Budget.
Along with strengthening production from the mine, the change will see a significant increase in annual tax credits, where the funds will be used to develop essential projects in Health, Education, Law & Justice and Transport Infrastructure & Utilities, in the Western and neighboring Sandaun Provinces.
OTML Managing Director and CEO, Musje Werror said the Marape-led government has recognized the need for more funds to be diverted towards developing the remote regions and showed confidence in the partnership arrangement under the Ok Tedi TCS, to develop infrastructure projects.
“We want to connect these two provinces by a road network from the North to the South and open up the region for the people to have better access to services and develop their local economies. This is the legacy that OTML wants to leave behind,” Mr. Werror said.
He said the new TCS projects will be aligned with the National and Provincial Governments priorities and will be managed through OTML’s projects & contracts management processes.
Other major projects being considered include an airport extension, construction of a new District Court House in Kiunga, upgrade of the Kiunga District Hospital, refurbishment of the Aiambak Secondary High School and the reconstruction and sealing of the Daru Town roads; the Kiunga/Tabubil Highway, the road from Alice Pit to the border, the Atemkit/Kavorabip road and the road link to Vanimo and Hela Province.
