NPF reveals investment in Coral Sea internet cable
Quoting the Solomon Star newspaper – 24 July 2019
“The cost of the Coral Sea submarine cable will be met by both the Australian Government (two-third) and the National Provident Fund (SINPF) (one-third).
“Prime Minister Manasseh Sogavare highlighted this during the recent launch of the commencement of cable laying ceremony in Honiara.
“MP Sogavare said the funding will cover both the international and domestic networks including Taro in Choiseul, Munda in Western and Auki in Malaita.
“He said the one-third contribution by SINPF means its members are also joint owners of the cable network project.
“However, he said much appreciation is for the government and people of Australia for the bigger potion of funding and for assisting in putting in place mechanism to counter and minimise the risk that will come with the cable.
“SINPF Board Vice Chairman, Dr Aron Oritaemae. said the fund is very excited of its investment in the cable project.
“The SINPF is very pleased and excited about its investment in the cable company, the Solomon Islands Submarine Cable Company (SISCC) Limited, to support the efforts of our government and the Australian Government,” he said.”
Copyright @ 2019, Solomon Star News.