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Sapmer-Piriou To Invest USD 500 Million In PNG

Sapmer, the industrial tuna fishing group from La Reunion, and the French construction group Piriou, are teaming up to build a tuna processing facility in Papua New Guinea, according to PNG’s trade and industry minister Richard Maru.
The joint project, worth USD 500 million, involves the construction of a 300 metre-long fisheries wharf, a value-added tuna processing plant, a 400 metre dry dock and a shipyard – all at the Pacific Marine Industrial Zone in Madang.
PNG is especially attractive given the duty-free access into the European market for its canned tuna and tuna loins.
The project is expected to employ about 2,500 workers and Maru would like to see shipbuilding operations at the facility as well to “teach the local people a new trade.”
Negotiations are currently ongoing for an agreement to be signed between the project promoter and the state, after Maru met with representatives from Sapmer-Piriou in Singapore last month.