Chinese Vying for Hotel Project in Roches-Noires

The project includes the Chinese company to build three hotels and a golf course, which will be implemented on a plot of 850 acres. It may be under construction during the first half of 2014 if all permits are obtained by then.

" The proceedings are ongoing. The record of the promoter was introduced to the Board of Investment for the appropriate permits, " said André Bonieux, Country Senior Partner of Price Waterhouse Coopers . " The consultations will take place between the stakeholders concerned before the Board of Investment gives the green light. There have been several visits to engineers, architects, marketing people of the Chinese company. We expect a positive outcome in the coming weeks . "

Once the Letter of Intent received from the Board of Investment , the developer should undertaking other steps for the appropriate permits, including the Environment Impact Assessment (EIA) excluding tenders for the various project components. The Chinese company has its customers already targeted.

The land allocated to the Chinese company was purchased in 2007 by a company comprising, among others, Reunion and French shareholders, an IRS project includes a marina, villas, two hotels and a golf course. It also included the development of a commercial space and a medical center, for example. There was talk that the project started in 2008.

However, the global financial crisis came to play spoilsport. Results: The project has not been possible and EIA lapsed. At the request of two banks, which are among its major creditors, the company was put into administration and the land was seized.