The re-development of the iconic Grand Pacific Hotel will begin in November this year.
The project is a joint venture between the owners of the valuable property along the Suva foreshore, the Fiji National Provident Fund, the National Superannuation Fund of Papua New Guinea and PNG based Lamana Development.
While launching the new designs of the GPH today, the Prime Minister Commodore Voreqe Bainimarama mentioned that this collaboration between Fiji and Papua New Guinea is a first of its kind.
Commodore Bainimarama said that ownership of the project is 50%, National Superannuation Fund of Papua New Guinea 25% Lamana development and 25% FNPF.
CEO of National Superannuation Fund of Papua New Guinea Rod Mitchell said the total project will cost more than $70 million.
The GPH will have a total of 113 rooms with a five star standard including a 600-seat state of the art conference facilities.
The project is expected to be complete by the third quarter of 2013.
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