Media Release: Completion of the Lae Currency Distribution Facility

Date: 04 October 2018

Lae Currency Distribution Centre

Lae, Morobe Province – The handover of the key for the Currency Distribution Facility (CDF) building from contractors, L&A Construction and Beacon Consulting to the Bank of PNG marked the completion of work on the building.

The Board, management and staff of BPNG are proud to announce that the handover of CDF building’s key to the Bank comes at a time when the building is going through a fit-out program in preparation to be fully operational in the first quarter of 2019. Recruitment is taking place with most positions being filled locally in Morobe Province.

To celebrate the milestone, the 220th Board meeting was held on 4 October in the boardroom of the newly completed building.

The Lae CDF building was blessed by Board member, Bishop Denny Guka. Present at the ceremony were BPNG Governor Mr Loi M Bakani CMG, Deputy Governor Dr Gae Kauzi, Board members – Mr John Leahy and Mr Simon Tosali, three Assistant Governors’, management, staff and the contractors.

Governor Bakani received the key from the L&A Construction owner, Sir Luciano Cragnolini and the Beacon Consulting Project Manager for the Lae CDF, Mr Greg McDonald.

Generally, the Board was impressed with the quality of the building, featuring a new and modern work environment, after they took a tour of the building. The Governor thanked the contractors’ loyalty and dedication to keep to the timeframe and budget during the construction of the building.

The builders, L&A Construction thanked BPNG for the contract that supported over 200 PNG dedicated and skilled workers livelihoods at the time when the climate for local building contractors and construction workers were not favourable. The builders expressed gratitude to its local workforce, with no record of accidents under very challenging weather conditions.

Senior managers from BPNG also visited various Secondary schools to disseminate information about the Bank, its functions and latest economic developments.The Board also made a commitment to the Angau Memorial General Hospital to donate medical equipment to its Accident and Emergency Department.

The official opening of the Lae Currency Distribution Facility is scheduled for the first quarter of 2019.

lae-cdf- key-handover-ceremony
Lae Currency Distribution Facility key handover ceremony by the contractor