Business Briefs - South Pacific
Business Briefs - South Pacific
Europe
The European Union has allocated 29 million Euros for Pacific Islands
regional projects during 2001-2005 and may give more if performance targets
are met, according to the Pacific Islands Forum Secretariat
secretary-general Noel Levi. The money is additional to European aid the
Forum's 14 island members get individually.
As signatories to the Cotonou Agreement, Pacific states entered a new aid
and trade pact with the European Union from June 2000. The European Union is
the region¹s largest source of aid.
Fiji
Brierley Investments Ltd, Singapore headquartered owner of 30 percent of
Air New Zealand, hotels and a variety of other international assets, has
bought full control of Tabua Investments, developer of the 655-room Denarau
Island resort, from New Zealand investors including Fay Richwhite.
Brierley, which is controlled by Malaysian businessmen, it is "extremely
confident" about the future of Fiji and intends to get on with developing
Denarau's vacant hotel and villa sites and a resort town. Denarau is the
location of three Sheraton hotel properties and a Trendwest time share
resort.
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French Polynesia
Construction of the new French Polynesia territorial hospital will start
near Papeete at the end of the month.
The hospital will cost 21 billion French Pacific francs (US$ 161.5 million)
and is due to be completed in 2004.
Kiribati
A Japanese grant of about US$11.5 million will equip Tarawa with a new
power station with two 1.4 megawatt generators, 16.4 kilometres of upgraded
11Kv trunk distribution line and 4.9 kilometres of new 11Kv line to areas
without electricity. The new supply is due to open in January 2003.
Tonga
France's Alcatel telecommunications group has won a contract from the
Tonga Communications Corporation to supply Tonga's first digital cellular
network.
The GSM 900 system will initially service up to 5000 subscribers and is due
to open by the end of September. Three transceiver stations will operate in
Tongatapu and one in Vava'u.
-China has lent Tonga US$4.23 million for improving and enlarging the
government-owned International Dateline Hotel in Nuku'alofa. Work is due to
begin in September and completed in 12 months, according to the Chinese
Embassy in Nuku'alofa.
