$70 million project to be completed by March 31
NUKUALOFA, Tonga (Matangi Tonga, Feb. 29, 2012) – The Nuku'alofa Central Business District CBD is like a town that is getting ready for a party, new buildings, new roads, new car park, and even a new wharf, all that we are waiting for now are for the guests to arrive.
Six years after riots destroyed the heart of Nuku'alofa on November 16, 2006, the reconstruction work funded by an TOP$118 million [US$70.3 million] loan from China is expected to be completed by March 31 this year.
The $118 million pa’anga loan is the biggest that the government has ever made from China. Government onward-lent the funds at a slightly higher interest rate, to some of the people who lost their commercial properties in the fire.
Construction work started in 2009, and today the works completed include a new Taumoepeau Building, a new O.G. Sanft Building, a new City Assets Molisi Tonga Building, the renovation of the Royal Palace...