Papua New Guinea’s economic landscape is set for a major transformation with the launch of the Pacific Lime and Cement Project, a landmark $400 million investment poised to revolutionise the nation’s construction sector.
Prime Minister James Marape hailed the project as a game-changer that aligns with the government’s strategic priorities to stimulate economic growth, reduce reliance on imports, and empower local communities.
“This project is a significant investment that will provide a substantial boost to our economy and demonstrate our commitment to industrial development,” Prime Minister Marape said.
The Pacific Lime and Cement Project is expected to generate over 1,000 direct and indirect jobs, replace imported quicklime and cement with locally produced materials, and contribute significantly to government revenues through taxes and royalties.
The project benefits from excellent infrastructure connectivity and tax relief incentives, granted as part of its Special Economic Zone (SEZ) status—further enhancing its viability and potential to attract complementary investments.
Central Province Governor praised the project’s collaborative spirit, stating, “This project demonstrates what can be achieved when all stakeholders work together with a shared vision and mutual respect.”
Member for Hiri-Koiari, Kieth Iduhu, reflected on the milestone’s broader significance: “Today marks a pivotal step for Papua New Guinea’s economic development as we strive to transition from import dependency to local production and export capabilities.”
Paul Maulder, Managing Director of Mayur Resources, acknowledged the critical role of local landowners: “We are extremely privileged to have worked alongside the local landowners for the past decade. Their unwavering support and partnership have been instrumental in our success.”
The Pacific Lime and Cement Project stands to drive sustainable economic growth, enhance PNG’s industrial capacity, and create new business and employment opportunities.
With strong stakeholder support and significant economic benefits, the project is poised to play a key role in shaping Papua New Guinea’s industrial future.