Pauli eyes returns from abandoned building
A report of the parties interested in the abandoned Desico Samoa building has been discussed but to date, no decisions have been made.
This was according to the Chief Executive Officer of the National Provident Fund, Pauli Prince Suhren in an interview with the Samoa Observer last week.
“There are many options on the table at the moment, but unfortunately, I can’t discuss them at the moment because they are confidential.” Pauli said.
“At least we can get some returns from these options,” he said.
Earlier this month, a number of bidders are said to have expressed interest in leasing the abandoned Desico Samoa factory at Vaitele.
This was confirmed by a senior officer of the Samoa National Provident Fund (S.N.P.F.) of Samoa.
“Yes there are several people who have shown an interest and we are now working on our report because this has to go through the Board before further action,” the official said.
The government first opened the multimillion tala facility at Vaitele in 2005.
At the time, the then Minister of Finance, Misa Telefoni said the production plant leased by Desico Samoa from the N.P.F. was an investment for contributors and the coconut industry.
But last year, when a former Chief Executive Officer of the Fund, Papali’i Panoa was asked about the wasted millions that had gone into the deserted production plant, he said the project had been done out of “good intentions” and based on a feasibility study done by a local consultant group and the World Bank,” he said.
He also claimed that some of the millions N.P.F. invested, could be recovered by the sale of the three acres of land and buildings.
Since the opening 12 years ago, there has been a string of failed business ventures at the ill-fated property.