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A number of high powered projects initiated by a group of Chinese investors estimating to a quarter billion dollars are gradually being implemented in Fiji, it has been confirmed.
From ethanol plants, seaweed factories, roads and low cost housing projects, relevant authorities have confirmed of its progress, some now being implemented since last year.
One of the latest Chinese projects to be approved for implementation is the $70 million low cost housing project planned for Tacirua, Raiwai and Raiwaqa.
Now, there are investors in Suva, Bua, Macuata and Cakaudrove and are said to be already into the implementation stages of their developments.
Department of Energy’s bio-fuel engineer Vilimone Vosarogo said some investors, particularly in ethanol and seaweed productions were already in Suva and Bua (on Vanua Levu) setting up their plants.
He said these various teams of Chinese investors have indicated plans to stay in Fiji and ensure the implementation of their projects.
“Some of these teams were here last year and this time, they are here for four months at a time,” Vosarogo said, adding another team was now involved in the Nadarivatu hydro project that drew $160 million investment from China.
Vosarogo said there were four companies currently on Vanua Levu - two in Bua and two in Cakaudrove, part of the group of investors who visited Fiji last year and had expressed keen interest to invest here.
He would not reveal the development project focussed on these two provinces.
However, he said the two companies were already into the implementation stages of their development.
“I am going with another two who will start the seaweed industry that will later produce bio-fuel,” Vosarogo said.
Questions forwarded to the Fiji Islands Trade and Investment Bureau (FTIB) on numerous occasions about proposed investment projects in Fiji, particularly with ethanol projects, remain unanswered.
After numerous requests for updates on these projects, it later forwarded the queries to the Department of Energy.
The FTIB has indicated that no foreign investments certificates have been issued to the group of Chinese investors who visited last year saying those were only interests expressed.
But Vosarogo said since most of the Chinese companies were funded by the Chinese government via the soft loan as part of the One China Policy, the Chinese government was therefore the investor.
Vosarogo said the estimated cost of projects earmarked for Fiji is valued at a quarter billion dollars.
However, he said: “If you take in the fact that around all these projects are the investments in support service industries, the figure can easily double”.
He said the interim Government was taking the coordination, promotion and facilitation aspect of the bio-fuel project plans.
“The funds and technology are from China, the only thing required here is resource supply by resource holders and government support and coordination,” Vosarogo said.
“You do not have to do a lot to promote renewable energy projects. They are the most feasible and sustainable projects if you have the essentials, and Fiji is one of the few that does,” he said.
Vosarogo said the funds for the projects earmarked this year would be committed by April this year, with promises for more assistance by China once the first lot of projects are implemented.
A total of $240 million is anticipated to be allocated to Fiji via a soft loan from China for the various projects planned to be implemented here.
