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Divestment of shares for FEA/AFL

November 5, 2015 9:57 pm

During his budget announcement this morning Minister for Finance Aiyaz Sayed-Khaiyum says the partial divestment of shares of the Fiji Ports Corporation Ltd yesterday is a move forward.

The divestment of shares plus some residual payments will let the Fijian government a total of $100m or 59 percent of the company.

“He said his brings about a number of opportunities to develop Fiji as a key transhipment hub with international recognized port managers. As part of the sale agreement the company with the new shareholders has to develop a new port master plan which will be supported by the Asian Development Bank.”

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Sayed-Khaiyum says they hope to divest shares in the Fiji Electricity Authority and Airports Fiji Limited with the same approach next year.

The Budget Announcement for the 2016 Budget is currently underway and you can watch it live on FBC TV.

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