$4b port plans face funding pressure

Fiji's multi-billion-dollar plan to upgrade and expand its ports is now under pressure, with questions raised over how the country will fund projects worth more than $4 billion.

The concerns were raised during a Standing Committee on Natural Resources hearing this week, where Fiji Ports Corporation Limited (FPCL) presented its an­nual reports from 2020 to 2023.

FPCL chief infrastructure officer Tomasi Sauqaqa told the committee that while the company has a pipe­line of$433 million in infrastruc­ture works over the next decade, this does not include the proposed new port, which alone is expected to cost over $4 billion.

He outlined key priority projects, including the Kings Wharf in Suva, upgrade and Suva Yatch capacity expansion.

In the West, FPCL is planning the Queens Wharf extension in Lautoka, along with discussions to further use the Amex Wharf for cargo operations.

Other ports are also under review. Plans are being explored to upgrade Malau Port in Vanua Levu, with a feasibility study proposed to allow it to handle containerised cargo.

However, Mr Sauqaqa admitted the current infrastructure is out­dated and may require a completely new facility.

"The existing structure has passed its design life, a new port or major upgrade is needed," he said.

In the East, Levuka Port has been declared "beyond economic repair," with FPCL now proposing a new port project estimated at around $53 million. Officials say they are actively seeking co-financing part­ners for this development.

Opposition Member of Parliament, Inosi Kuridrani questioned how these major works would be funded, warning that Government alone may not be able to meet the cost.

In response, FPCL acting chief ex­ecutive officer Suresh Prasad con­firmed that FPCL is already in talks with development partners, while also working with Government ministries.

"We have always self-funded our projects, but now we are also looking at external partnerships," he said.

He added that delays in tariff ap­provals over the past 11 years have also affected the company's ability to generate revenue for such large investments.

With multiple ports across the country in need of upgrades or re­placement, the pressure is now on to secure funding and deliver projects that are critical to Fiji's trade and economic growth.