Nasfund, NAC sign agreement for development

THE National Airport Corporation (NAC) and Nasfund signed a Memorandum of Understanding (MoU) and non-disclosure agreement to develop infrastructures for airports around the country that can benefit both NAC and Nasfund.
Transport and Civil Aviation minister Walter Schnaubelt said this MoU will allow both organisation to explore what this potential development will look like and what areas they were willing to invest in.
“Nasfund themselves will indicate in terms of what they will spend in this venture,” he said Schnaubelt said NAC has embarked on development initiatives to get much needed development around the country, and were looking for development partners, and having a partner like Nasfund coming through will now put NAC in a position to get those initiatives done.
“Not just at Jackson Airport in Port Moresby but all 22 airports within the country,” he said
He said they were happy to facilitate and be part of this MoU and to see to it that the MoU would not only benefit Nasfund, but its members as well.
Nasfund chief executive officer Rajeev Sharma said the whole point of the MoU was to find areas where they can invest and their members can benefit from the investment, and where NAC can also benefit from the development and infrastructure.
He said the second aspect of the MoU was that they see airports as an area where they can educate people more about superannuation.
“What we are basically aiming at is prospective members, all these children who travel along with their parents come to airports and we see this MoU as opportunity on two fronts: one is the investment part and the other is the superannuation opportunity,” Sharma said.