Fund, FSC execute land exchange
14 January, 2021, 11:30 pm
The Fiji National Provident Fund executed a “land swap” deal with the Fiji Sugar Corporation in 2019 with a “cash consideration of $7,518,118 and land swap with FNPF of $21,217,125”.
This is according to the FSC’s 2020 annual report under “disposal of property, plant and equipment”.
However, details of the location and size of the land was not specified in the report.
In August last year, Attorney- General and Economy Minister Aiyaz Sayed-Khaiyum announced FNPF had bought land from FSC to build a new manufacturing subdivision in Navutu, Lautoka.
“FNPF, together with the Ministry of Commerce and Trade, is working with IFC (International Finance Corporation) to build an IT/ clean manufacturing subdivision in Navutu in which FNPF has bought some land from FSC,” he said at the time.
“The reason we chose Lautoka, of course, was because of its proximity to the Nadi airport and its proximity to the seaport.”