Abel: K100 million expected from casino

Source: The National, Friday May 11th 2012 THE 4-Mile Hotel Casino project is expected to bring in foreign investment of more than K100 million over the next 12 months, Commerce Minister Charles Abel said. It is also expected to create employment and support business activities in Port Moresby. “The project will create over 500 direct employment and more than 2,000 indirect employment opportunities and create income earning opportunities for our youth and women,” he said. He re-launched the project yesterday after it was suspended last year due to lack of financial support and administrative delays. Steven Khan, representing the new investor AusPNG Ltd, said the re-launching of the project was a positive step forward for the nation and Port Moresby in terms of job creation opportunities. He said as an experienced development organisation registered in PNG, AusPNG had no hesitation in becoming the major shareholder for the project. To ensure the success of the investment, Khan said AusPNG had engaged a number of globally recognised companies to assist in specific areas of the development stage. These include Accor Group and Casino Austria. The construction phase would first look at the completion of the hotel, shopping areas and the casino. Later it will look at the completion of the hotel and accommodation. Approval for the Hotel Casino was given in 2005.