Tuesday, 20 October 2009 12:06 PM

Gold Ridge Mining Expected to Provide Opportunities

Solomon Islands, Prime Minister, Dr Derek Sikua has said that the Gold Ridge Mining will be one of the largest private sector projects in the country once it becomes operational.

This was revealed during a Press Conference last Friday.

Dr. Sikua says that the International Finance Corporation, a private sector arm of the World Bank Group, is working with the government to improve the investment environment within the country.

Dr. Sikua says this is to make it easier to do business and attract more investment which will in turn generate additional sustainable jobs.

Dr. Sikua says that IFC's key stone investment in Gold Ridge will contribute to creating approximately 500 full time jobs once it becomes operational, since it will be one of the largest private sector project in the Solomon Islands. He says additional employment will also be generated in downstream service businesses.

He says running at full capacity, the Gold Ridge Mining will account for up to 20 percent of Solomon Islands' total Gross Domestic Product, GDP.

Dr. Sikua says he also wants to see the Russell Islands Plantation Estate Limited (RIPEL) back in operation, further adding that RIPEL has one of the largest coconut plantations in the southern hemisphere.


Source: SIBC Online

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