Kumul Petroleum Holdings Limited has partnered with the Ihu Special Economic Zone to help provide its Energy Solutions.
A memorandum of agreement was signed between the Ihu Special Economic Zone Development Company and KPHL recently in Port Moresby.
The Ihu Special Economic Zone was established in the year 2020, in the Kikori District of Gulf Province, designated for downstream processing.
Earlier this year, an agreement was signed between the Ministry of International Trade and Investment and KPHL, which allows KPHL to provide Energy Solutions for SEZs.
International Trade and Investment Minister Richard Maru said SEZs will not be viable unless they have access to affordable electricity.
He said this signing is a start of a new beginning.
“We don’t give SEZ licence unless you meet all the requirements. You must have Roads, Power, Wharf, Airports and Investors” Maru said.
According to Kikori MP Soroi Eoe, there are ongoing discussions with the department of Works and Highways to build a new road in the district.
“Power is a very important requirement, and there are plans to improve the airport,” Eoe said.
KPHL Managing Director Wapu Sonk said, KPHL is happy to collaborate with the Ihu SEZ Development Company to carry out feasibility studies on possible power generation solutions.
“We will look at the most appropriate power solutions for the Ihu SEZ, which could include renewable sources such as Hydro.” The Managing Director said.
Following this agreement, KPHL will carry out feasibility studies on potential sources of the generation of power, and make recommendations on those that are commercially viable. The Managing Director said, It will be the responsibility of the SEZ development company, Landowner, LLG and Gulf provincial government, and the Ministry of International Trade and Investment, to progress in the recommended options.
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