Papua New Guinea 1.65Mta plant in planning stages

Mayur Resources ' Central Cement & Lime Project in Papua New Guinea (PNG) is another step closer to development with debt lead arranger KPMG Corporate Finance receiving Letters of Interest from a number of lenders wishing to participate in the debt financing of the US$350m project.

KPMG approached a variety of debt providers around the world, including commercial banks and export credit agencies linked to the engineering, procurement and construction providers for the 100 per cent Mayur‐owned project, which has a target  output of 1.65Mta cement/clinker and 200,000tpa of quicklime for supply to PNG and Australia. The CCL Project, is located on the coast 25km north‐west of Port Moresby, PNG.

Mayur Managing Director, Paul Mulder, said he was very encouraged to see the high level of international interest in the company's flagship project. "The project's major appeal is that it provides exposure to a Tier 1, low cost, long‐life, vertically integrated clinker, cement and quicklime operation in a growing economy on Asia's doorstep," Mr Mulder said.

"It not only serves PNG's future cement and lime requirements but also takes advantage of the cyclical and structural changes that are well underway in Australia's cement industry, which is now characterised by aging cement plants, rising costs and increasing shift to imports of clinker and cement."