DEVELOPMENT IN N.G.
New Group Formed (N.Z. Press Assn.—Copyright) SYDNEY, May 15. A group of Australian banks, insurance companies, and other interests has formed a company to attract and develop investment in Papua and New Guinea. The company Australia New Guinea Corporation, Ltd.—was formed on the recommendation of a group of businessmen who toured Papua-New Guinea last year. The company’s chairman of directors (Mr S. Rich) said the company’s original capital would be £250,000, buf development running into millions of pounds should stem from its operations. Size No Object The company will give special attention to projects of particular importance to the development of the territories, “regardless of size." The director of the Research School of Pacific Studies at the Australian National University (Sir John Crawford) will be special adviser to the board.
The formation and objects of the company were praised by the Minister for Territories (Mr C. E. Barnes) and the Administrator of PapuaNew Guinea (Sir Donald Cleland).
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19640518.2.216
Bibliographic details
Press, Volume CIII, Issue 30443, 18 May 1964, Page 17
Word Count
160DEVELOPMENT IN N.G. Press, Volume CIII, Issue 30443, 18 May 1964, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.