BY JOHN HOUANIHAU
Careful financial management and long-term savings have enabled the Solomon Islands Ports Authority (SIPA) to fund major infrastructure projects without relying solely on external financing.
SIPA Board Chairman Moses Virivolomo said this when he addressed questions about how SIPA finances its investments at the commissioning of Kulabule Jetty last week.
He emphasised that careful saving and reinvestment of resources have been key to its growth.
“The simple answer is saving. Don’t use all your money at once. SIPA’s investment strategy has allowed it to continue supporting government services while facilitating trade and the movement of people and goods throughout the Solomon Islands.
“In addition to the newly commissioned wharf, SIPA is undertaking several major infrastructure projects. One of the most significant is the reconstruction and expansion of Berth One, where new cranes have already been installed,” Mr Virivolomo said.
He said that the project is being implemented with support from the World Bank under the Land and Maritime Connectivity Programme (LMCP).
He said SIPA also acknowledges the support of the Asian Development Bank (ADB) in helping to redevelop the berth, which is considered one of the safest facilities at the port.
“Construction work underway includes a new multi-storey building similar in design to the Millennium Building, as well as extensive yard and pavement upgrades,” he said.
He said SIPA is also working with the Australian Government on a proposal to extend the North Wharf eastward to increase port capacity and improve operational efficiency.
He said visitors can already see newly completed pavement works designed to strengthen climate change resilience and improve safety for customers, port users and staff at the domestic terminal.
He said SIPA recently completed a similar wharf project in Noro using its own resources and says it remains committed to improving port facilities across the country.
“Ongoing developments include enhanced infrastructure to support businesses and traders, particularly those transporting perishable goods, through improved access to power and other essential services,” Mr Virivolomo said.
He said these investments demonstrate SIPA’s commitment to modernise port infrastructure while maintaining a strong focus on self-financed development and sustainable growth.
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