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Ethanol Plant Planned for Fiji
FIJI - Fiji could see investment of up to F$63.6 million (US$40 million) from China to build an ethanol plant creating between 700 and 800 jobs.The offer of the cash injection comes from the owner of a chain of sugar mills in China’s Guangxi province, Liangci Sugar Manufacture Company Limited.
The potential for a new ethanol plant in Fiji follows a visit from a four man fact finding delegation from China.
The delegation comprising mill managers and engineers has conducted surveys of potential sites in Naitaisiri, Tailevu, Vanua Levu, Nadroga, Sigatoka and Navua, according to Fiji Live.
Fiji LIve reports that Fiji's ambassador to China Sir Jim Ah Koy said the team was pleased with the potential sites they were shown given that most of the crops grown in China could also be grown here.
"They reckon Fiji can be a tremendous country. It’s just that we are just very much undeveloped," Sir Jim told Fiji Live.
He said the team would also be working closely with the Native Land Trust Board for the identification and provision of unused land.
"Each mill requires about 18,000 hectares of land and we've learnt from the NLTB, not counting freehold or state land, but just pure native leases, that there are about 200,000 hectare of spare lands that are not being planted," he said.
A memorandum of Understanding is expected to seal an agreement that Fiji and China will enter into a joint venture partnership where Fiji would own 51 per cent and 49 per cent for a Chinese company.
The loan for the project will be at the rate of five per cent interest free, two per cent on the six year for the next 20 years.
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