Chinese investors have proposed to the Native Lands Trust Board to set up a new subsidiary company to enable it to enter a joint venture to establish the ethanol industry in Fiji.
Speaking at a press briefing this morning, Fiji's Ambassador to China Sir James Ah Koy as he revealed that the Chinese company Guanxi State Farms has been chosen to start ethanol production in Fiji and initial plans involved NLTB's Vanua Development Company which is facing some problems.
Sir James also said the establishment of the ethanol industry in Fiji will help reduce Fiji's $1.7 billion annual fuel bill and bring about economic fertility in the country.
The NLTB is expected to comment later. A site in the Northern Division has already been chosen to establish the first ethanol plant while sites in Navua, Naitasiri, Ra and Tailevu are being looked at for the second plant.
The proposal will be presented to the interim cabinet tomorrow.
Chinese Investors Propose NLTB
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