PLANS AFOOT FOR $30 MILLION FIJI CEMENT FACTORY

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Agreement between Fiji, Chinese investors

SUVA, Fiji (Fijilive, Oct. 6, 2008) - Fiji business tycoon Hari Punja today signed an agreement with a Chinese investor for the construction of a cement manufacturing factory here.

Punja described his new business partner as a "big time player" who has been in the cement manufacturing trade "for many years."

After the signing of the memorandum of understanding today, Punja said they hope to move very fast with construction of the factory next year and begin production in 2010.

The total cost of the project to be established in the western division will be FJ$50 million [US$30 million].

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