Business · Companies · 15 hrs ago
Pacific Lime and Cement secures A$50m placement for PNG industrial plans
Pacific Lime and Cement secured commitments for an A$50 million share placement to advance its plans in Papua New Guinea.
It also signed a non-binding term sheet with the US International Development Finance Corporation for a proposed US$15 million investment.
The proposed investment would be an eight-year convertible note, but still requires due diligence, final approvals and completed legal documents.
The company is developing an industrial zone and port at Kido/Rearea, with planned lime and cement businesses at its centre.
The placement is intended to fund work on the zone and port, tenant agreements and early steps toward a cement investment decision.
The plans link manufacturing with port access and logistics to serve Papua New Guinea and Asia-Pacific markets.
The company targets first lime production in late Q1 to Q2 2027, while investment decisions on cement and port expansion are targeted for Q1 2027.
Pacific Lime and Cement received firm commitments for an A$50 million placement to advance industrial and port plans in Papua New Guinea.
The company also signed a non-binding term sheet for a proposed US$15 million investment from the United States International Development Finance Corporation.
The placement is intended to support development of the Kido/Rearea Special Economic Zone and port, tenant agreements, and Central Cement.
The proposed DFC investment is an eight-year senior unsecured convertible note and remains subject to due diligence, approvals and final documentation.
The company targets first lime production in late Q1 to Q2 2027 and cement and port expansion investment decisions in Q1 2027.
- Who
- Pacific Lime and Cement received the placement commitments and signed the term sheet with the United States International Development Finance Corporation.
- What
- It secured an A$50 million placement and signed a non-binding term sheet for a proposed US$15 million investment.
- When
- The announcement was published on 9 November 2026.
- Where
- The plans concern the Kido/Rearea Special Economic Zone and port in Papua New Guinea.
- Why
- The placement is intended to advance the SEZ and port plans, tenant agreements and Central Cement. The proposed DFC investment would support pre-development activities across the company’s lime, cement and port businesses.
This story does not have two clearly opposing sides.
The first major kiln shipment reached Port Kido, carrying more than half the equipment and materials required for Central Lime’s two planned production lines.
Settlement of the placement is expected.
The placement shares are expected to be issued.
Preferred-tenderer approval for the cement construction offers is targeted.
The company targets first lime production.
The company targets cement and port expansion investment decisions.
- Placement
- A$50 million before costs
- Placement price
- A$0.36 per CDI
- Proposed DFC investment
- US$15 million in an eight-year senior unsecured convertible note
- Kido/Rearea tenure
- Approximately 4,500 hectares of registered long-term tenure within a gazetted SEZ
- Port expansion
- Proposed nine berths
- Central Lime shipment
- More than half the equipment and materials for two planned production lines
What people are saying
The DFC transaction, alongside the backing of our new and existing shareholders, has the potential to be transformational for PLC and a landmark moment for Papua New Guinea
We are excited to move PLC from developer to producer and landlord, and from a single project to an integrated industrial platform