Quantum Fiji Ltd commences work on Fiji Project

Press Release No.: 05/2011
Date: 30 March 2011
Phone: (679) 3315988    Fax: (679) 3301783
Email: info@ftib.org.fj

 

A month following the issuance of its Foreign Investment Registration Certificate (FIRC) by the Fiji Trade and Invesment Bureau (FTIB), Quantum Fiji Limited successfully concluded its cash and land settlement with company lawyer Lateef & Lateef this morning.

The Chinese company registered with FTIB early this month to undertake investments in properties and property development; timber logging and processing; hotel operations; and commercial farming.  Sources have revealed that the project is estimated to be worth F$60 million with F$35 million allocated for the 1st phase of development which invloves the purchase of land, development of infrastructure, construction, planning and promotional activities for hotel operation.  The 2nd stage of F$25 million investment will be geared towards the development of the commercial farm.

Fiji's ecological environment and abundant natural resources were draw cards for the Chinese company which aims to also develop agricultural farm products for commercial use.  The investors are expected to collaborate with the China Agricultural University in Beijing and experts in agricultural to set up a service oganization that will provide modern commercial agricultural technologies and related services to its clients.

Other developments expected to be undertaken by Quantum Fiji Limited include a hotel, residential area, and biological farm area.

The new operation is expected to boost investment in the Agriculture, Tourism and Services sector and provide employment to locals.
 

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