SUNBIZ

FNPF Diversifies Into A Hydroponic Farming

The superannuation fund called on qualified management service providers for the venture.
11 Oct 2022 13:00
FNPF Diversifies Into A Hydroponic Farming

Fiji’s national superannuation fund aims to diversify into agriculture, after consultations with its seven resorts and hotels.

Fiji National Provident Fund has called for expressions of interest for a joint venture partner in a hydroponic farm.

It followed an assessment on local sourcing needs, in consultation with stakeholders.

In 2017, hotels and resorts in Fiji’s main tourism areas spent FJ $74.4 million on the procurement of fresh produce.

 

Of this, 52 per cent, or more than FJ $38.5 million (US $18.8 million), was spent on imported items.

Vegetables, fruits and herbs totalled over $16 million for the tourism sector.

Meanwhile, the superannuation fund called on qualified management service providers for the venture.

Joe’s Farm Produce, a prominent hydroponic farm owned and operated by leading local businessman, Michael Joe, did not comment when contacted by SunBiz.

 

Contenders for the joint venture project must meet FNPF’s mandatory requirements, including a valid:

  • Insurance cover,
  • Fiji National University Levy Compliance,
  • Tax compliance letter, and
  • Relevant technical licenses.

“FNPF defaulters will not be considered for this expression of interest,” the superannuation fund said.

FNPF-owned hotels and resorts are:

  • Grand Pacific Hotel, Suva,
  • Holiday Inn, Suva,
  • The Westin Denarau Island Resort and Spa,
  • Fiji Marriott Resort Momi Bay,
  • Sheraton Fiji Golf and Beach Resort, Denarau,
  • InterContinental Fiji Golf Resort and Spa, Natadola, and
  • Yatule Beach Resort and Spa.

Expressions of interest close on October 14 SunBiz’s queries to FNPF remained unanswered when this edition went to print.

 

Feedback: frederica.elbourne@fijisun.com.fj



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