A Malaysian bulk fuel consortium is keen on partnering with local business entities to deliver cheaper, consistent and accessible fuel and gas to the provinces.
A four-member delegation from the consortium has arrived on Thursday and has met government officials and business executives of both the National Provident Fund (NPF) and South Pacific Oil during the past days.
On Monday, the delegation paid a courtesy call on the Prime Minister Manasseh Sogavare.
They expressed their admiration of the natural beauty of the country and the business opportunities available in terms of fuel and gas provision, particularly to the provinces.
“Our trip has been a very exciting trip and an eye-opener in terms of the natural beauty of your islands.
“Our meetings with government officials and local entity officials went very well.
“The meetings enabled us to assess the areas of business opportunities in Solomon Islands, especially when it comes to delivering cheaper, consistent and stable supply of fuel and gas to the provinces,” the head of the delegation, Mr Dato’ Meor Azman Mohamed told the Prime Minister.
Mr Mohamed is the Chairman and CEO of Crimson Petroleum.
He said his group has identified gasoline and kerosene as the target commodities for any business operation in Solomon Islands, but added that Liquefied Petroleum Gas (LPG) would also offer a viable product for it.
Mr Mohamed said fuel and gas prices in rural Solomon Islands can be expensive because they are influenced by the high cost of transportation and the length of distance to delivery points.
He said his company’s solution to the problem is to deliver fuel and gas in bulk to the rural areas using fuel ships other than transporting bulk fuel in 44-gallon drums.
Mr Mohammed said the group is aware of the limitation of infrastructure that government can provide to enhance development but added that his company’s policy promotes partnering with the government in building required infrastructure which is what he said is their intention here.
Mr Mohamed also thank the Solomon Islands High Commissioner to Malaysia, His Excellency Victor Ngele for providing the delegation with appropriate information for its visit to the country.
The other members of the delegation are Yenny Yond, Executive Director of Crimson Petroleum SBN BHD, Mahmud Abu Bekir Taib, Group Chairman of Kris Sakti Holdings, and Woon Wai En, Chief Financial Officer of Energy Logistics Solutions SBN BHD.
– Prime Minister’s Press Secretariat