Bank South Pacific Limited and Petromin P-N-G Holdings Limited, closed
the financing of the State's equity of 120-million US Dollars, or 356-million Kina in its joint venture with Nautilus Minerals, this afternoon. This follows the signing of a Memorandum of Understanding between B-S-P's Group Chief Executive Officer Robin Fleming and Petromin's Arun Basu, in Port Moresby this afternoon. Mr. Fleming said, today's signing gives the State a 15 per cent equity share in the development of the Deep Sea Mining Project in the Bismarck Sea. He said, the transaction also highlights B-S-P as the local market leader, in delivering complex financial solutions for the development of major resource and infrastructure projects, and its commitment and capability to stretch well beyond pure debt financing. Comments are closed.
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