PAPUA New Guinean exploration company COMUCO Limited is partnering with the cement manufacturer Sinoma and Ahtech to mine limestone and other minerals deposits in Rigo, Central.
A memorandum of understanding was signed between the parties in Port Moresby on Wednesday.
COMUCO chief executive officer Dr Clement Waine said the memorandum would pave the way for collaboration in geological studies and exploration before reaching a final investment decision in September this year.
Waine said that the company would begin production in 2027 and to sell its products at half the price in the market.
Sinoma commercial manager Wang Zhenlei said that the partners from China would build a cement production line in PNG.
According to Zhenlei, the project would create jobs for 400 employees initially and reduce cement prices by 50 per cent.
He said that the initiative was expected to boost PNG’s infrastructure and industrialisation effort, with the support of both China and PNG governments.
“The project is critical for PNG’s infrastructure and industrialisation, with the potential to supply cement up to 400 tonnes and increase revenues,” he said.
Zhenlei also introduced Anhui Technology Import and Export Company from China’s Anhiu province.
It is a state-owned company with 200,000 employees, covering various building materials including cement, glass, and steel.
According to Zhenlei the company not only designs production lines but also produces all necessary equipment and provides after-construction services, including training for local employees.
