May 27, 2008

$200m worth of projects on hold

$200m worth of projects on hold
27 MAY 2008 -

Fiji’s capital Suva would have been a hive of construction activity now if three proposed projects with a total value of around $200 million had been given the green light to go ahead.

On hold are the proposed multi million dollar Suva Market (projected to cost around $30m), the upgrading of the Grand Pacific Hotel (projected at $42m) by the Fiji National Provident Fund (FNPF); and the proposed high class apartment block, conference centre behind the Bowling Club also by the FNPF, a project believed to cost over $100m.

These major projects were put on hold after the December 5, 2006 coup by the military government after the takeover of the Qarase government.

Even if the proposals get the thumbs up now, it would likely take a year and a half for them to get off the ground, Suva City Council director engineering services Jagdish Singh said.

According to him, there were a lot of developments happening prior to the December 5 coup in 2006 but developments slowed after the political upheaval. “People are not willing to invest.”

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