Telikom PNG Limited has handed over the wholesale telecommunications assets to PNG DATACO LIMITED according to a statement released by PNG DataCo.
PNG DataCo says that since its inception, the company has been pursuing government policy decisions to build and manage the National Transmission Network (NTN).
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| Telikom PNG Hands Over Wholesale Telecommunications Assets to PNG DataCO |
The NTN according to the statement will comprise of existing wholesale infrastructure to be transferred from PNG Power, Telikom PNG, and IPBC together with newly built transmission infrastructure.
The wholesale infrastructure from PPL and IPBC was achieved back in 2015 while the Telikom wholesale assets has taken about 7 years before the eventual transfer today in a small but historical event officiated by the Minister for Public Enterprise and State Investments, Hon William Duma, Acting Kumul Consolidated Holdings Chairman, Moses Maladina and Acting Managing Director Kumul Consolidated Holdings, Prof David Kavanamur, Acting CEO Telikom PNG, Amos Tepi and senior officials.
While the assets transferred were initially vested back in 2016, Telikom was not able to transfer the assets due to loan covenants with ANZ. Telikom and DataCo entered into a wholesale business transfer arrangement and a Right to Use arrangement for DataCo to utilize the assets to ensure government policy decisions on the wholesale retail reforms were achieved.
PNG DataCo CEO, Mr. Paul Komboi, says that the transfer will enable DataCo to focus on consolidating these assets and plan their upgrade and modernization to ensure a cost-effective and reliable wholesale service offering to the retail service providers.
"DataCo will now have the infrastructure assets in our balance sheet and this will enable us to effectively monetize and secure as a critical and strategic national infrastructure"
Picture Credit: PNG DataCo