Investor committed to Sepik Plains Project
Via Loop PNG
20th September 2017
Israeli investor, Innovative Agro Industry, has assured the Government and the people of East Sepik of its commitment to invest and develop several agriculture and farming projects on the Sepik Plains.
Chief executive officer of the Innovative Agro Industry, Lior Crystal, was part of a delegation that flew over to the Sepik Plains on Monday, Sept 18, 2017.
Other parties on the aerial inspection were the Australian High Commissioner to PNG, His Excellency Bruce Davis, and the CEO of the PNG Cocoa Board, Kautu Boutua.
The delegation was led by the Minister for National Planning and Monitoring, and Member for Yangoru-Saussia, Richard Maru.
The delegation was given a bird’s-eye view of the proposed site of the chicken and grain project under the Sepik Economic Zone (SEZ).
Crystal described the Sepik Plains as a beautiful landmass sitting there, waiting for development.
“I am here on behalf of the LR Group, Innovative Agro Industry, stating that we are committed to the development of this land. We are not only coming to develop, we are coming as an investor. We are putting our money where our mouth is,” Crystal said.
The Innovative Agro Industry will develop an egg laying farm, broiler meat farm and grain production.
The developer will also establish a modern cocoa plantation using Israeli technology that will produce 400 to 500 percent more yield than an average cocoa plantation.