LR Group

State approves equity structure for Sepik project

Minister for National Planning and Monitoring and Yangoru-Saussia MP, Richard Maru, says cabinet has approved the shareholding structure, which gives 5 percent to locals.

Minister Maru said the equity structure approval paves the way for the chicken, grain and cocoa proposed projects to go ahead.

The Government is partnering with Israeli firm, LR Group, to implement the project.

Maru said the land is state owned but the Government has given a percentage to the locals to be active participants of the project.