Port Moresby, June 12, 2025 – Kumul Consolidated Holdings (KCH) has announced its continued support for the upcoming 2nd Papua New Guinea Special Economic Zones (SEZ) Summit by presenting a cheque of K200,000 as Gold Sponsorship for the event. The summit is scheduled to take place in Port Moresby from August 31 to September 3, 2025.
Government Officials Express Appreciation
The Minister for International Trade and Investment, Hon. Richard Maru, expressed his gratitude to KCH Managing Director Professor David Kavanamur and the Minister for State Enterprises, Hon. William Duma, for their valuable support toward the summit.
Minister Maru said, “We are very happy to work with KCH. We look forward to receiving their submissions for the Madang Integrated SEZ and the Portside SEZ so that these can be processed and approved by the National Executive Council. The SEZ Authority will grant licenses once all regulatory requirements are met.”
Progress on the Madang Cannery Project
During the announcement, Minister Maru and Professor Kavanamur also provided an update on the new tuna cannery project in Madang. Following the clearance of the Memorandum of Understanding (MOU) by the State Solicitor, the Shareholders Agreement is expected to be finalized soon between the three shareholders: KCH, Madang Provincial Government, and RD Corporation.
This agreement will pave the way for the official launch of the cannery project, which will take place on Monday, July 7, 2025, in Madang. Prime Minister Hon. James Marape will be invited to officiate at the event. The Governor of Madang, Hon. Ramsey Pariwa, is also scheduled to meet with officials to finalize the launch program.
A Project Years in the Making
The cannery project was initially initiated by the Somare Government but experienced delays under subsequent administrations. Minister Maru emphasized that the current Marape-Rosso Government is committed to delivering this important project in 2025 as part of PNG’s 50th Independence celebrations.
The project aims to promote onshore processing of fish caught in Papua New Guinea waters. The National Fisheries Authority is expected to release the Domestication Policy soon to support this effort.
Economic Impact and Job Creation
Minister Maru highlighted the economic benefits of the project, saying, “We hope to ban the export of unprocessed fish in the coming years. This initiative is expected to create over 100,000 new jobs and increase revenue from less than K1 billion to over K5 billion through licensing, company taxes, personal income taxes, and GST.”
The 300 metric ton cannery project is estimated to cost K160 million. The State’s share of equity funds is ready and will be released to the new joint venture company, to be named ‘Kumul Fishing Limited,’ once the Project Agreement is signed.
Next Steps and Government Commitment
The new board and management for the joint venture will be appointed in the coming weeks. Construction of the cannery is expected to begin shortly after the official launch in July.
Minister Maru acknowledged the support from the Prime Minister, Cabinet, KCH, RD Corporation, Madang Provincial Government, and all partners involved in the project. He praised the government’s vision to advance the “Take Back PNG” initiative by finally delivering the long-awaited PMIZ decision.