Deal #3716

Location #1

Spatial accuracy level
Administrative region
Location
Gulf, Papua-Neuguinea

Target country
Papua New Guinea

Land area

Size under contract (leased or purchased area, in ha)
[2007] 59460

Intention of investment

Intention of investment
Agriculture unspecified, Timber plantation (for wood and fibre)

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
subleased to secondary investor (for 90 years) The lease is an agro-forestry lease entailing the clearing of forest and development of 10 an oil palm estate, a pine wood plantation and any other agriculture crop development.

Negotiation status

Negotiation status
[2007] Concluded (Contract signed)

Implementation status

Implementation status
[2011] Project not started

Leasing fees

Comment on leasing fees
primary investor (Koaru Resource Owners Company) has by sublease arrangement granted 90 years of the lease to Pacific International Resource PNG Limited, at the rental of K60,000 per annum and royalties of 10 per cent net profit for the first 20 years presumably from logging, and 15 percent of net profit thereafter from the oil palm and other agricultural developments; the rent and royalties payable to the Landlord being Koaru Resource Company (not the landowners)

Contract #1

Contract date
2007-08-03
Duration of the agreement (in years)
99

Operating company

Name of investment project
Kerema-Meporo Agro Forestry project
Comment on investment chain
landowner company - however has only two shareholders

 

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Data source #1

Data source type
Research Paper / Policy Report
File
Date
2012-08-01

Data source #2

Data source type
Government sources
File
Date
2011-10-05

Data source #3

Data source type
Government sources
File
Date
2011-10-06

Data source #4

Data source type
Media report
File
Date
2011-11-29

Data source #5

Data source type
Media report
File
Date
2011-11-28

Consultation of local community

Community consultation
Limited consultation
Comment on consultation of local community
no full knowledge of the landowners

How did the community react?

Community reaction
Rejection

Former land owner (not by constitution)

Former land owner
Community

Detailed crop, animal and mineral information

Crops area
Oil Palm, Pine

June 7, 2013, 8:33 p.m.

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May 8, 2013, 9:03 p.m.

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