SEZ_DEVELOPMENT_MOA_SIGNING
On 21st Feb 2023, SERACS Ltd facilitated the signing of MOA between the Rearea Landowners and the Mayur Industrial PNG Ltd (MIL) to establish an entity called Mayur Rearea Joint Venture (MRJV). The new entity will be 50% owned by MIL and 50% owned by landowning clans of Rearea village. Total of six major clans of Rearea village participated in this MOA signing through their representatives.
Under Special Economic Zone (SEZ) Act 2019, both foreign and local developer and/or operator must have a clear land title or long term lease agreement with landowners in order to develop or operate the SEZ. This was emphasized by SEZA Acting CEO Kikila Yavase in a recent media report.
SERACS Ltd role is to ensure that the process of obtaining the new land title is guided with relevant legislations, so to give confidence to the investors and avoid future problems.
Both parties will follow due process with the Department of Lands and Physical Planning (DLPP) to convert any customary land parcels within the SEZ 1911-0221 to State land. MRJV will be a new title holder, being provided concent to access the SEZ license benefits under the SEZ Act 2019.
MIL is planning to facilitate via co-development with the six major clans of Rearea village and other relevant industries on the land parcel covered by SEZ 1911-0221 and Blocks 2 & 3 of ML526. Last year (2022), Mayur signed similar MOA with Kido landowners for the same purpose
MAYUR CENTRAL CEMENT AND LIMESTONE
On 15th Mar 2023, our officers from SERACS Ltd had a scouting trip to the proposed jetty area for Central Cement and Limestone (CCL) Project in Kido, Central Province.The trip was purposely to collect information on economical non-cultivated plants, record number of gardens, assess vegetation and identify the physical constrains of the area.The outcome of the trip will guide the team to come up with the proper schedule for the crop counting exercise.
It is part of the process of implementing the Compensation Agreement signed between Mayur Resource (developer) and the landowners in 2019.
The payment of the crops will base on the Valuer-General Compensation for Trees and Plants criteria.
