South Pacific Oil (SPO) has established a new fuel depot on Noro, Western province.
The official launching of the new facility was held on Friday.
Acting Premier of the Western Provincial government, Wyne Maepio officiated the launching.
This is the second depot to be built in Noro. Over the years only Markwarth has fuel terminal in Noro.
The new facility has been described by the provincial boss and its shareholders historic as it advances economic activity in Noro but in the country as well.
The new fuel depot can carry up to three million liters of important fuel and Acting Premier Maepio congratulated shareholders and partners of the activity for taking the Noro a step ahead in terms of getting such an infrastructure in place in a location that is increasingly becoming an important growth center.
In his address at the opening Mr Waepio told invited guests and shareholders of the provincial government commitment and pledge to find alternative sources of revenue generating activity now that logging is increasingly phasing off.
He said that his government is serious and is supportive of the commitment of the SPOL to install what is an important fuel depot in Noro given its position in economic activity as very important.
Mr Maepio told the gathering that the western province has only just passed the Western Province Corporation Ordinance following the Provincial Assembly meeting in September l.
He said that with the passage of the new Ordinance stand to benefit all shareholders. The Western Province is a shareholder as well.
He explained that Western Provincial Investment Corporation (WPIC) is the business arm on behalf of the Province and it will look after and manage all the investment portfolios of the government.
Mr Maepio said that the provincial government would as much as possible allow WPIC free from political wrangle but to carry on with business with a straight line.
Last Friday’s opening was attended by representatives of the SPO shareholders. SPOL is fully 100 % owned by the Solomon Islands National Provident Fund.
Mr Maepio said that the Western province is looking at promoting itself as an important economic destination and is prepared to explore income generating alternatives and seize such opportunity by entering into partnership with investor.
He said the government is looking at ways to encourage rural farmers so the provincial government is reinvigorating the agricultural sector and is looking at Rendova harbor plantation as a reference point to begin.
This spirit of entrepreneurship is what the government is using to set off its development goals. The acting Premier spoke highly of the achieved of the shareholders to the SPO and congratulated them for take a step further.
SPO General Manager Carson Korowa, Chairman SINPF Baoro Koraua, Managing Director of Soltuna Adrian Wickham, SPO board Chairman Peter Boyers and other guests were present at the unveiling ceremony.