The Fiji National Provident Fund is now looking at options to go into a joint venture with interested companies that would assist in the completion of the Momi Bay Resort project and ensure that the FNPF funds injected into the project since about 2003 are recovered.
FNPF Chief Executive Officer, Aisake Taito said the board is currently looking at the options based on the current situation with the unfinished project.
Taito said FNPF now believes that the Momi project has to be completed before they look for interested buyers.
He also said they want to go into a joint venture with companies that also bring substantial funding to the project rather than just coming up with a concept and expecting FNPF to fund the project.
The 107 hectare crown foreshore waterfront site is a mixture of native land lease and freehold titles, with 350 residential units.
There is a half built golf course, hotel and resort on the property.
It was earlier highlighted that FNPF funds injected into the project since about 2003 is close to $80 million.
Story by: Vijay Narayan
