Darren Young

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.

This was revealed by developer, Shenzen Energy.

Shenzen Energy Group President, Pingyang Wang, and his team met with Minister for State Owned Enterprises, William Duma, and Kumul Consolidated Holdings Managing Director, Darren Young, as discussions on the Ramu 2 Hydro Project are being concluded.

Wang and his team have been in the country since Sunday meeting with the Prime Minister and major development partners such as Ramu Nico.