The Fijian Ministry of Lands and Mineral resources has just formalised the 99 year lease agreement for the Chinese cement factory to be set up in Veisari Lami.
Minister for Lands and Mineral resources Netani Sukanaivalu says the Tengy cement company Limited, was given consent by government to secure the 99 year lease to build the country’s second cement factory. Sukanaivalu says what used to take government two years to finalise took government two months to complete.
“Tengy is one of the first Chinese companies to accept the prime minister’s invitation. I’m particularly pleased that the Fiji government has stood true to its commitment to facilitate in the shortest time possible and within reasonable cost the request from foreign investors.
The new US$40m factory [presumably a grinding plant] is expected to serve Fiji and the Pacific and reduce costs for home construction through competitive pricing of cement.