Lae MP John Rosso said the AUD$120 million (K290m) upgrade of Lae Port is one of seven ports across the country which will benefit from the AUD$580 million (K1, 401m) funding from the Australian government.
In a statement, the Lae MP and Lands Minister said the massive funding, to be executed through PNG Ports Corporation, is the biggest single investment by Australia in any sector and project in the history of the Australia Infrastructure Financing Facility for the Pacific (AIFFP) – Australia’s assistance programme for the region.
