The Ministry of i-Taukei Affairs is in the final stage of the Vale ni Bose Redevelopment Project.
Speaking in Parliament, Minister Responsible Ifereimi Vasu indicated that construction works on the Great Council of Chiefs Meeting Hall will begin in June of this year once the i-Taukei Trust Board approves the awarding tender.
Vasu said the project is expected to be completed at the end of 2024.
Standing Committee on Social Affairs Chair Alitia Bainivalu while presenting the i-Taukei Trust Fund Board Annual Report said the board informed them that based on the fire report from the National Fire Authority, the Police had closed its investigations and plans are underway to redevelop the Vale ni Bose.
Bainivalu said the Standing Committee was informed that the i-Taukei Trust Board was paid out a $6.5 million as insurance on the building – and has invested it, while the Board waits for the commencement of the redevelopment of the project.
She also added the Board achieved a gross revenue of $8.1 million and a net from operations of about $1.4 million for 2019, compared to $3.9 million in 2018.
“The decrease in profit was attributed to the written down value of the burnt Vale ni Bose.”
This was highlighted in Parliament during the review report of the i-Taukei Trust Fund Board 2019 Annual Report.