Since PNG DataCo’s establishment in 2014 as a major state-owned enterprise and telecommunication wholesaler, its financial performance has been on an upward trajectory.
Minister for Public Enterprise and State Investment William Duma said this is reflective in PNG DataCo’s performance in the last two years with a favourable 2020 financial year compared to previous financial year results.
Mr Duma said this is due mainly to its capital-based nature and high maintenance of infrastructure cost to ensure continuous provision of reliable and stable internet network which is an on-going challenge the board and management has taken on board to address in its long term planning to improve internet connectivity across the country.
“I am pleased with the key outcomes PNG DataCo has achieved through its investment despite operational and economic challenges over the last eight years which is building the Kumul submarine cable network over 5500km connecting all the 16 coastal provinces, built about 2000km terrestrial fibre connecting all the Highlands provinces, built the international coral seas cable (Sydney-Port Moresby-Solomon Islands) and building satellite infrastructure to support cable links,” Mr Duma said.
He said PNG DataCo recently built two data centres and ventured into cloud based products to provide value service to its customers to grow its business and to stimulate and foster social and economic development in PNG.
Mr Duma said the challenges for DataCo going forward is to continue to expand the national transmission network, monetise the existing infrastructure to remain cash-flow positive and position itself to service its debt.
