Smarts City Scheme: Lease agreement signed for development in Riche Terre

A lease agreement over 100 arpents of land situated at Riche Terre was signed between the Ministry of Housing and Lands and Silkroad International Investment Co. Ltd from China, under the Smarts City Scheme, on Friday 6 May 2016 in Port Louis in the presence of Minister of Housing and Lands, Showkutally Soodhun. The document was signed by Mrs Dalida Allagapen, Acting Permanent Secretary at the Ministry, and Mr Xian Lianjun, Chairman of Silkroad International Investment Co. Ltd. It is expected that Silkroad International Investment Co. Ltd will invest some Rs 5 billion for phase one of the project which will comprise integrated commercial development, wedding fame square, business hotel, education facilities and business club. Some 1,200 direct jobs will be created. The shareholder is the same one as for Jinfei, that is, Shanxi Jin Fei Investment Co. Ltd. It is recalled that a new industrial lease was granted in 2015 in the name of Mauritius JinFei Economic Trade and Cooperation Zone over 75 arpents of land in the Riche Terre region. The sole shareholder is Shanxi JinFei Investment. In his address, Minister Soodhun stated that the lease has been granted after thorough study and due diligence. “The Ministry has ensured that proper conditions are embodied in the lease agreement,” he said. Soodhun added that the upcoming development in Riche Terre region will form part of an integrated project for Port Louis. According to him, construction has to start within six months after the signature of the lease and the project to be completed within a period of five years. Soodhun pointed out that in case conditions are not respected, the government may terminate the lease agreement and will resume possession of the land. The objectives of the Smart City Scheme are to create mixed-use development comprising office, business, residential and entertainment components all integrated in a coherent Master Plan focusing on innovation, sustainability, efficiency and quality of life; and the setting up of an environment friendly working, living and leisure space aiming at generating its own resources in terms of energy and other utilities and providing for state-of-the-art connectivity, smart modern transportation and reducing traffic congestion.