For the first time since becoming Deputy Prime Minister of the sovereign state of Papua New Guinea Hon. Sam Basil landed in his home province of Morobe on the 14th of October at the invitation of the Mineral Resources Development Corporation (MRDC) and officially commissioned their K26.5 Million three story Gobe Haus.
The modern office building which was completed on time and below budget is a testament of MRDC’s prudent management. The Deputy Prime Minister was impressed with the direction MRDC is going and heaped praise on the company’s Managing Director Augustine Mano in his keynote speech.
“Mr. Augustine Mano, you have shown very strong leadership. When I took up my portfolio as Planning Minister in 2011, we supported your appointment that time and now look at MRDC, the company is gaining momentum in PNG and the Pacific.”
Built on the site of the old ANZ building which was razed by fire, the ruins once seen as an “eye sore” in the heart of the nation’s top industrial hub has now been transformed into a thing of marvel, entrenching MRDC’s reputation as a world class brand.
Mr. Mano expressed his gratitude and thank the Lae City Authorities and Morobe Provincial Government on the support given in terms of the building board approvals and processes involved in making this dream a reality. The approval process is more effective and faster than NCD, and that’s the leverage in delivering this project under record time.
Built to the Australian National Construction Code (ANCC), and fully Compliant with both Australian and Local Papua New Guinean standards, the 100% national owned MRDC which remarkably has no expatriate personnel in its top management ranks made a grand entrance into the Morobe province with the unveiling of the Gobe Haus.
Member for Lae Hon. John Rosso marked the opening of the Gobe Haus as a proud moment for the city. He pointed out that the property is fully funded by Landowner money that will in turn bring major economic and spin off benefits to Morobe.
“It is a momentous occasion having this fine building built here, and entrusting our city with this property. I understand that the K26 Million is from land owner companies, not investors from outside or whatever putting the money in our country”
One of the best ways that PNG Locals and landowners will effectively participate in the Oil and Gas and other industries was to build capital and MRDC Board Chairman Isaac Lupari reaffirmed their commitment that the company will continue to build its investment portfolio on behalf of its landowner companies.
“We have done really well in the last 10-15 years all because our landowners decided that they should become effective participants in the development of the country, not just rent collectors; getting the money and spend it the next day. They are now pilots of their own destiny” said Lupari.
The shift from royalty collectors to property owners has been comprehensive under the stewardship of MRDC’s visionary leadership. MRDC is now a major local investor and wealth creator on behalf of resource Landowner beneficiaries such as the PRK, PRG, PRM, MRSM, MRCMCAH, and GRPNGLNG Plant.
However, the management aptitude MRDC displays today was only made possible on the back of strict discipline and careful management. Formed in 1975, the company was on the brink of collapse in 2008 when the then new Managing Director Augustine Mano took over state entity’s K675. 95 portfolios. Twelve years into Mano’s reign the Company combined portfolio has ballooned to a mammoth K6 Billion that it is starting to spread its wings across the vast pacific too.
Headlining this investment portfolio is MRDCs building constructions footprints across the country and beyond. The freshly commissioned Gobe Haus is the latest installment from the MRDC investments in top tiers products such as the Star Mountain Plaza in Port Moresby, Pearl Resort in Fiji, Star Mountain Mobil Service Station in Port Moresby, and MRDC Haus in Downtown Port Moresby among others.
Augustine Mano in conclusion of the ceremony said that “MRDC is a development partner. We are just like other investors like Exxon Mobile and Oil Search. We are here to stay in the country and drive the development agenda forward.”
