PRESS RELEASE


Suva, 05 December, 2008: Fijian Holdings subsidiaries, Hume Industries and Standard Concrete Industries won the bid for the Vanuatu Transport Infrastructure Project.

The project is funded by the US Government under its Millennium Challenge Fund Aid Program to selected countries around the world. The Head contract was awarded to Downer Construction Limited to upgrade the 93km coastal road around Efate Island and 30km of road on Santo Island.

A joint bid by the FHL subsidiaries resulted in each being awarded a sub-contract with Downer Construction Limited. Hume Industries will supply 700 units of concrete pipes for the project whilst Standard Concrete will crush 20,000 cubic metres of sealing chips to be used for sealing the 123km road. The total value of the project awarded to the two companies is $F2.7 million. According to Standard Concrete General Manager, Mr Mosese Volavola, the two companies submitted the most competitive bid compared to other bidders from Australia, New Caledonia and New Zealand. A full set crushing plant will be set up in Vanuatu for the project and around ten people will be sent to Vanuatu to man the plant.
Mr Volavola said, “The project size is more suited to our plant and equipment capabilities and we have the technical expertise to tailor make a crushing plant setup specifically for the project requirements.”

When asked how winning the project will impact business in the future, Mr Volavola added, “Winning this project means that our annual export growth target will be exceeded in the next financial year. It also puts us in line with our strategic vision of being the preferred supplier of all processed stone and cement based products in Fiji and the Pacific and has also provided us with the opportunity to implement our strategic plan for diversification into the region.”

About Humes and Standard Concrete:
Hume Industries and Standard Concrete Industries are major divisions of Basic Industries Limited, a company jointly owned by Fijian Holdings Limited and Holcim New Zealand Limited, a leading supplier of cement, aggregates, ready mixed concrete and lime.

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