The National Airport Corporation (NAC) and Nasfund today signed a Memorandum of Understanding (MoU) that will see the two-organisations benefit from the investments that will be made in the airport facilities nationwide. The Minister for Transport and Civil Aviation, Walter Schnaubelt who officiated at the small but significant signing ceremony at his office at 7 Mile, Port Moresby said the agreement will enable Nasfund in the future to invest in infrastructures like shops or facilities that would offer convenience for the travelling public at airports. “Today marks a significant milestone for the National Airport Corporation,” said the minister. “We sign now an MoU with Nasfund to try and now look at potential investment development opportunities within the airport precinct of all twenty- two airports under the management of National Airport Corporate.” “This MoU will give opportunity for both the Nasfund and NAC to identify which areas of investments and information that is needed by NAC and acceptable by Nasfund in terms of their requirement.” “This is an opportunity we’ve been waiting and longing for a long time and it’s now here and we are looking forward to that relationship and provide all the necessary information to get to the stage that we can sign an actual agreement, and investment identification in terms of what we are going to build and what cost,” he added. Nasfund Chief Executive Officer (CEO) Rajeev Sharma said the investment that would be made will greatly benefit its 680, 000-member base with returns on investments passed on to the members. He said this will greatly increase Nasfund investment portfolio. Meanwhile, NAC Acting Managing Director Mr. Dominic Kaumu said NAC needs this kind of partnership that would assist them develop their airport facilities because NAC cannot do it alone given the major costs involved. Mr. Kaumu said NAC along with Niusky Pacific have K4 billion worth of assets and this agreement identify which parts of land to build and what type of building to build on the land, greatly benefiting NAC and the traveling public.