The Ports Authority of Tonga has recorded a profit of $TP2.2 million to the end of the 2015/16 year.
Due to an increase in the volume of cargo moving through the port of Nuku’alofa and the number of ships docking, income grew 13% on the previous year to a record $TP10 million.
Total income for the Ports Authority has grown by 44.9% since 2010 to 2016.
The Authority said this was a sign of its economic efficiency.
The authority’s board of directors met earlier this month to present a cheque for $TP1.6 million to the Hon. Poasi Mataele Tei, Minister for Public Enterprises.
The cheque represented the dividend paid to the government as a shareholder in the port.
Growth in the port sector was marked earlier this year when His Majesty King Tupou VI on April 21 officiated at the ground breaking ceremony of the new domestic wharf in Nuku’alofa.
The USD$30.5 million (TP$67 million) project is being financed through a grant through the Japanese International Cooperation Agency.
This project is expected to be completed in 2018.
The board of directors was restructured in May, with the appointment of Mr Stephen Edwards as chairman) and Dr. Cpt. Sione Tu’itupou Fotu, Mrs Helen Po’uliva’ati Toli, Mr Tomifa Paea and Mr Viliami Takau Jr as directors.
The main points
- The Ports Authority of Tonga has recorded a profit of $TP2.2 million to the end of the 2015/16 financial year.
- Due to an increase in the volume of cargo moving through the port of Nuku’alofa and the number of ships docking, income grew 13%on the previous year.
- Total income for the Ports Authority has grown by 44.9% since 2010 to 2016.
- Growth in the port sector was marked earlier this year when His Majesty King Tupou VI on April 21 officiated at the ground breaking ceremony of the new domestic wharf in Nuku’alofa.
