23 May 2007

Bougainville fishing company gets license

9:57 am on 23 May 2007

The North Solomons Fishing Company has been given a license to operate, buy and sell marine products in the autonomous Papua New Guinea province of Bougainville.

The newspaper, The National, reports that the company is the initiative of Leo Hannett and James Togel.

Both had contributed over 8,000 US dollars each towards the project and last week the Prime Minister gave 317,000 US dollars.

The estimated annual return of the fishing project is two million US dollars.