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AG Welcomes the inagural Shenzhen-Port Moresby cargo flight for the 54MW Edevu Hydropower Project

On Sunday, August 20th, 2023, AG Investment Ltd. etched history by orchestrating a direct flight from Shenzhen to Port Moresby, in consultation with PNG Power Limited (PPL). This significant stride was accompanied by productive discussions with ShunFeng (SF) Airlines, China's largest air cargo carrier, to inaugurate a novel air cargo route linking Shenzhen to Port Moresby.

The inaugural flight was greeted with enthusiasm by AG Investment’s Managing Director, Mr. Allan Guo, and our team. The occasion played host to a distinguished guest list, including Hon. William Duma - Minister for State Enterprises, Ambassador Zeng Fanhua - China's ambassador to PNG, Mr. McRonald Nale - Chairman of PNG Power, Professor David Kavanamur - Managing Director of Kumul Consolidated Holdings, Mr. Obed Batia CEO of PNG Power, Mr. Bruce Alabaster CEO of Air Niugini, and an array of other esteemed delegates.

Making its voyage on a Boeing 747 aircraft, this maiden flight carried a substantial 90+ tons of cargo destined for the Edevu 54MW Hydropower Plant in Central Province and the Moitaka Substation upgrade. This strategic move is projected to save the company six to eight weeks of travel time, facilitating the completion of the project within this year. Mr. Guo expressed his gratitude for the collaborative efforts with the government, PPL and KCH, in this final phase of the project and to NAC, and Air Niugini for facilitating the flight logistics.

Hon.Duma's speech resonated with the journey of the Edevu Hydropower station, applauding over 14 years of perseverence to reach this culmination.

Addressing the challenges faced by PPL, Chairman Mr. Nale expressed optimism in implementing solutions. He acknowledged AG's steadfast support, labeling the company as a trusted development partner for PPL. The commissioning of the Edevu Hydropower Project, he noted, would mark a significant milestone, making it the most cost-effective IPP to supply power to PNG Power.

Hon. Duma's keynote speech resonated with the journey of the Edevu Hydropower station, applauding over 14 years of perseverance to reach this culmination. He urged greater international investment into PNG, lauding AG for its three decades of investment in Papua New Guinea. Ambassador Zeng Fanhua echoed similar sentiments, highlighting the avenue this inaugural flight opens for enhanced China-PNG collaboration in the airline sector.

The Shenzhen-Port Moresby route is SF Airlines' pioneering cargo route to Oceania, bolstering its global air-cargo-service network that spans Asia, Europe, and North America. The airline, an extension of China's prominent courier enterprise SF Express, operates a fleet of 84 freighters, servicing over 90 domestic and international destinations. The airline is looking foward to further discussions with the PNG Government's relevant authorities.

The completion of this pivotal project is eagerly anticipated, with manpower poised for deployment across PNG for our other upcoming hydropower initiatives in over eight districts including; Bulolo, Wau-Waria, Nipa Kutubu, Telefomin, Namatanai, Kundiawa Gembogl and SInesine. The future holds promise as AG Investment continues to illuminate pathways for energy development in the nation.

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