China Harbour successfully won the bid for Phase I Tide Terminal Project of Lae Port Development Project of Papua New Guinea.
This is not only a good start of Sri Lanka Regional Company in the first quarter and the first step of the Company in the market of Papua New Guinea but also laid down a solid foundation for the Company to further expand the market of South Pacific Region.
The contract value of the Project is approximately equivalent to USD 285 million and the construction period is 30 months. The project site is located on the south of the former port area of Lae, the second largest city of Papua New Guinea.
World Maritime News Staff, March 5, 2012