Monday, 15 October 2012

MV Fly Warrior Launched

The last of three shipping vessels purchased by the OK Tedi Development Foundation (OTDF) for the people of OK Tedi and the Fly River communities was launched in Malaysia last month.

The MV Fly Warrior, a 65 meter bulk carrier capable of carrying either bulk cargo or fuel was launched from the Sarawak Slipways after going through formalities including its blessing and naming. 

The vessel will service OTML’s operational requirements (carrying up to 72 containers and or 1.2 million liters of fuel) out of Port Moresby but has the capacity to call into Australia when required and is expected to generate an estimated eight percent return annually on an initial capital investment of about K16.5 million. 

It is hoped that the MV Fly Warrior and its sister vessels MV Fly Hope and MV Fly Explorer will generate long term returns for the 156 villages that benefit from the OK Tedi Community Mine Continuation Agreement (CMCA).
Speaking at the launching, OTDF chairman Nigel Parker said that the purchase of the vessels was “a step forward into making sure the communities’ investments are put to good use.

“Our vision is to see the lives of our community river partners improve so that they can be self sustainable,” Parker added.

Meanwhile OTDF CEO, Ian Middleton reminded guests present that “the long term benefits that will come from these key investments will not happen overnight, but will gradually filter into the communities through development projects and programs.”

The OTDF is also considering facilitation of further projects in other areas including agriculture, health, education or transport infrastructure.

The ODF was formed after the exit of BHP Limited from the Ok Tedi mine, and was incorporated in 2002 as a Non-Profit organization as provided for by the Mining (Ok Tedi Mine Continuation Ninth Supplemental Agreement) Act 2001. 

A review of the CMCA in 2006/2007 led to the formation of the Ok Tedi Fly River Development Program (OTFRDP) under the OTDF. It has the primary role of mobilizing CMCA funds for and on behalf of the communities, and has been used as the vehicle for delivery of sustainable projects and programs to the CMCA communities since March 2010.

No comments:

Post a Comment