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A Malaysian contractor will carry out major road upgrading works between Suva and Rakiraki on Fiji’s Kings and Queen’s highways through an $80 million loan from the Exim Bank of Malaysia.
The funds will be used to rehabilitate sealed roads in the area over the next two years.
Prime Minister and Minister for Finance Commodore Voreqe Bainimarama said the Department of National Roads in conjunction with the Central Coordinating Agency for Roads is working on finalising the works contract with a Malaysian road contractor.
Bainimarama said he finalised the loan with senior Exim Bank executives currently in Fiji.
He said the road rehabilitation project is a major shift in the way in which government has been tackling the rehabilitation, maintenance and construction of roads in Fiji.
“The project combines a finance partner, government and private business working together within a set budget and established road upgrade program criteria,” he said.
Bainimarama said that the method is expected to prevent budget blowouts of the past.
