SUNBIZ

$29m Investment In Water Factory

Korea Resort Company (Fiji) Limited has been granted Special Development Lease for setting up a water factory in Nadelei, Tavua, by the Ministry Lands and Mineral Resources. An Agricultural (Special
06 Dec 2014 00:20
$29m Investment In Water Factory
Ministry of Lands and Mineral Resources acting deputy secretary, Malakai Nalawa (left), hands over the lease documents to Korean Resort Company (Fiji) Limited chairman, Y.G. Chang and local director, Peni Taqanekurukuru.

Korea Resort Company (Fiji) Limited has been granted Special Development Lease for setting up a water factory in Nadelei, Tavua, by the Ministry Lands and Mineral Resources.

An Agricultural (Special – Buffer Zone) Lease has also been granted.

This has been confirmed by local director of Korea Resort Company (Fiji) Limited, Peni Taqanekurukuru.

The company plans to start building a water bottling factory by next year.

Korea Resort Company (Fiji) Limited has a joint venture contract with XINYI Group from Beijing, China.

The Chinese part will invest US$15 million (FJ$29 million) for the first stage of development.

The first stage will include building of the factory which will be in the first half of next year. The process will include extracting and bottling water at source.

Further investment is expected as discussions continue with the project development.

Survey already conducted previously has found major water source in the area.

Mr Taqanekurukuru said they were looking at starting off with the bottling come next year.

The name of the product will be “Love & Thanks”.

Mr Taqanekurukuru confirmed they would be exporting the bottled water mainly to China.

Feedback:  rachnal@fijisun.com.fj

 




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