SUNBIZ

Fletcher Building Awarded Multi Million Dollar Momi Contract

The contract for the Momi Bay Redevelopment project has been awarded to Fletcher Building (Fiji) Limited. Momi Bay Resort is fully-owned by the Fiji National Provident Fund and the project
14 Nov 2014 07:30
Fletcher Building Awarded Multi Million Dollar Momi Contract
Prime Minister Voreqe Bainimarama gets a traditional welcome at the Momi Bay Redevelopment launch yesterday. Photo: WAISEA NASOKIA

The contract for the Momi Bay Redevelopment project has been awarded to Fletcher Building (Fiji) Limited.

Momi Bay Resort is fully-owned by the Fiji National Provident Fund and the project is part of its investment rehabilitation programme.

Prime Minister Voreqe Bainimarama launched the resumption of the construction stage of the project yesterday.

Fletcher Building, a construction company, is renowned for its reputation and involvement in the local construction industry and has a proud history in Fiji and the Pacific.

The company is part of a major New Zealand corporation listed on the stock exchange.

FNPF chairman, Ajith Kodagoda, said they had made sure they started off at the right time.

He said they had to delay this for at least three months because of elections.

“The board decided to hold since we had to wait for the result of the general elections which would have an effect if the government had changed,” he said.

Mr Kodagoda said the completion is supposed to take 24 months but they are pushing for 18 months.

He said what makes it easier for them is they are not dependent on anybody for funding.

FNPF chief executive, Aisake Taito, said the project development team are ready to steer the project to completion stage.

“The project is a critical part of FNPF’s investment rehabilitation under the current reform programme,” he said.

“The Fund will ensure the objective of the project is met and members’ funds invested into this project is fully recovered.”

Future development

Meanwhile, Mr Kodagoda said in medium term, they are looking putting up the 500 freehold land lots available up for sale in Momi Bay.

“We believe there will be good prize for those land lots which we can recover in what we have wrote off during the disaster of 2006 (collapse of New Zealand’s financing company, Bridgecorp).” he said.

Landowning unit

Prime Minister Voreqe Bainimarama acknowledged Vanua Nalolo describing the landowning unit as its most important partner in this investment project.

He said the landowning unit’s members stand to benefit from the project now and into the future.

“Already 50 villagers have been recruited by Fletchers for the construction phase and more opportunities lie ahead,” he said.

“Vinaka vakalevu to you all, not least for your patience over the years.  I am sure that you are all looking forward to greeting your first guests and giving them a special Nalolo welcome.”

Feedback:  waisean@fijisun.com.fj

 




Fijisun E-edition
Tanoa Waterfront Lautoka Fiji
Subscribe-to-Newspaper
Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: