Construction of first Cement plant in Papua New Guinea
Papua New Guinea’s country is set to construct its first cement-lime integrated project in the coming year. The project has been granted to Mayur Resources. The company is considered among the ASX category. The executive director of the company, Mr. Tim Crossley, in a briefing stated that the project would boost the country’s domestic market and work in favor of the export market as well.
Papua New Guinea is an ideal location for cement plants; why?
As per Mr. Executive director’s statement, the country is an ideal location for a cement plant because of three factors.
- The population of Papua New Guinea.
- Raising economy of Papua New Guinea.
- It is expected, the consumption of cement increases as the GDP of the country increases.
Records indicate that the consumption of cement in PNG is about 40kg per capita. In comparison, the consumption rate in developing countries such as Indonesia and South Africa is about 250kg per capita. It reported that Malaysian consumption of cement has reached up to 600kg per capita. The statistics show that Mayur Resources will be getting a significant benefit out of the situation.
The country has to import 100% of the required cement and quicklime. Still, Mr. James Marape, the Prime Minister of PNG, has announced an intense strategy to deal with the import displacement, downstream processing, and vertical integration. The plan will strongly favor the business cases of the country. The PM is highly optimistic regarding the country’s future, in the Lowy Institute of Australia in 2019; He commented that the country would move forward from the dependent phase to the position where the country will have an economy better than before, independent and diverse.