Mauritius | Infrastructure

September 09, 2013

Riche-Terre: Large Property Development Jin Fei

A Chinese conglomerate, Cin-Gin, announced plans to invest several billion rupees in the Economic Zone Jin-Fei, for a real estate development.

"Who is going slowly but surely, and that will surely go away ." This saying , even if it is not Chinese , seems to sit down perfectly mega project Jin- Fei . Much water has flowed under the bridge since that Mauritius was chosen in November 2006 , as the first recipient of Chinese trade and economic zones in Africa and the promise of foreign direct investment of Rs 25 billion still remain to be fulfilled.
Of the 172 hectares allocated to Chinese developers since 2006, only a few have been developed. Chinese developers Jin- Fei sublet Crown lands four Chinese entities or the Mauri -China Freezone Development Limited of Hong Kong for activities in the field of logistics and distribution facilities with d storing, Goldox Limited for civil works and decoration, Fujian Shengli engaged in food and Business Line Middle East , specializing in the trade of heavy equipment across the world .
But things finally seem to be moving in the right direction since the beginning of the year and the visit of the Minister of Finance , Xavier -Luc Duval , China. This tells the Daily Challenge that large developments are expected. A large Chinese group , Cin -Jin , would have made a request to operate a third of the land allocated to Jin Fei , more than 57 hectares. And should leave the land , offices , conference centers and hotels , among others. This explains Xavier -Luc Duval, in accordance with the permissions granted to Jin Fei, at the time. Investment Cin -Jin should be around several billion rupees , says our interlocutor .
Some rules have also changed. " Now investors can build on the land allocated to Jin Fei, but tenants must always be foreigners ," says Grand treasurer . Jin Fei could also house the bunkering operations . Xavier -Luc Duval said " there is a debate as to whether a portion of the land should not be dedicated to the activities of bunkering by the Chinese. " The liberalization of bunkering activities in Mauritius this year, should better equip the port to refuel the ships going to and transform Mauritius Port Louis hub port .
The finance minister also added that the donations offered by the Chinese government , should be used for the start of construction of Chinese Culture House, with a national library and archives Jin Fei . Chinese Jin Fei pay the Mauritian government an annual sum of Rs 9 million , or Rs 52,325 per hectare in the form of leasing for the project, which was to serve as a springboard to make Mauritius an economic hub between the People's Republic of China and Africa .

 

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