GROUNDBREAKING FOR PNG’S LARGEST COLD STORAGE FACILITY IN FISHERIES SECTOR
The Managing Director of the National Fisheries Authority (NFA), Justin Ilakini, has welcomed the groundbreaking of a 12,000-metric-ton cold storage facility by Nambawan Seafoods PNG Limited in Lae.
These US$20 million (over K80 million) investments will become the largest cold storage facility in the country once completed.
Mr Ilakini described the occasion as a major milestone that signals renewed investor confidence and the beginning of a new phase of growth in Papua New Guinea’s fisheries sector.
Mr Ilakini remarked, this groundbreaking marks an important turning point for the fisheries sector reflecting the success of policy, structural and legislative reforms introduced by the NFA since 2022 and endorsed by the Marape-Rosso Government.
He noted that Papua New Guinea’s tuna industry experienced its first major investment phase between the late 1990s and 2013, culminating in the establishment of six tuna processing plants.
The ceremony was held at Portion 667, Busu Road in Lae.
The planned 12,000-metric-ton cold storage facility by Nambawan Seafoods PNG Limited in Lae will increase Papua New Guinea’s total tuna cold storage capacity by more than 60 percent.
National Fisheries Managing Director Mr Justin Ilakini says, the increase will address key industry bottlenecks and improving efficiency across the sector.
Mr Ilakini in his remarks during the groundbreaking ceremony occasion says, this development will lead to more tuna landings, increased processing, greater employment opportunities, and higher export earnings for the country.
The NFA Managing Director also emphasized that the investment aligns with the Government’s Fisheries Strategic Plan and the National Tuna Domestication Strategy, which aims to ensure Papua New Guinea captures greater value from its tuna resources through local processing and value addition.
Mr. Ilakini said the initiative is also consistent with regional priorities set by the Pacific Islands Forum, particularly the East New Britain Initiative, which calls for greater retention of tuna value within Pacific Island countries.
He commended FCF Co. Limited, the parent company of Nambawan Seafoods, for its continued investment in Papua New Guinea’s fisheries sector.
